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Wireless

Telecom Italia may sell Brazil towers within weeks - report

Friday 24 October 2014 | 10:38 CET | News
Telecom Italia could agree on a deal to sell the wireless towers of its Brazilian unit TIM Brasil within a few weeks, according to unnamed sources cited by Reuters. The sale of towers in Brazil was one of the cost-cutting measures announced by Telecom Italia CEO Marco Patuano at the end of 2013 as part of a wide-ranging plan to bring down the company's EUR 28 billion debt. The Italian operator is looking to raise EUR 900 million from the sale of TIM Brasil's towers but so far bids have been in the region of EUR 500-600 million euros, the sources said. American Tower Corp and Cell Site

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Categories: Mobile & Wireless
Companies: Oi / Telecom Italia / TIM Brasil
Countries: Brazil / Italy
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