Telecom Italia To Sell Major Stake

Telecom Italia will discuss the future of its broadcasting business later this week, the company said, as speculation mounts it could spin off or sell assets in the loss-making unit.

In a statement, Telecom Italia said a board meeting will look at strategic options for its majority stake in Telecom Italia Media.

Over the weekend, news reports said Telecom Italia would decide on the sale of its 77 per cent stake in TI Media which broadcasts the channels La7 and Mtv, and which owns three multiplexes of channels.

Earlier on Monday, a senior journalist at La7 said a spin-off of TV infrastructure operations would be announced soon. “There will be a corporate separation, there is no secret about it,” La7 news anchorman Gad Lerner said in an interview.