Italy’s TIM gears up to sell minority stake in enterprise service arm – sources

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Reuters UK

MILAN (Reuters) – Telecom Italia (TIM) is close to kicking off a process to sell a minority stake in its enterprise service arm, two sources close to the matter said, as CEO Pietro Labriola strives to revamp Italy’s biggest phone group. Labriola’s turnaround plan for the debt-laden former phone monopoly centres around ceding control of its prized landline grid to state lender CDP, while also breaking up the company into several units and lure new investors. As it presses ahead with its turnaround plan while valuation issues complicate the network’s disposal, TIM will shortly launch a beauty co…

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