MILAN -(Dow Jones)- Telecom Italia reiterated Tuesday it hadn't given a mandate to sell its mobile unit Telecom Italia Media, and it hadn't received any offer.
The Italian phone company said Monday its was spinning off its mobile assets and its fixed-line network into separate entities, as it focuses on broadband and media.
In a statement issued Tuesday, Telecom Italia said it had yet to decide the financial structure of the two companies.
"The board of directors of Telecom Italia will examine any opportunities of value enhancement for the network and mobile communication business that might present themselves," it said.
People familiar with the situation said at the weekend that Telecom Italia is planning to sell off the mobile arm, TIM, valued by analysts at about EUR35 billion, as well as its Brazilian mobile unit, TIM Participacoes, in a move to reshape itself as a media company.
-By Giada Zampano, Dow Jones Newswires; +39 02 58219907; giada.zampano@dowjones.com
(END) Dow Jones Newswires"
Posted to the site on 12th September 2006
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