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Telecom Italia is said to be seeking avenues to sell assets worth about €1bn to further reduce its debt, as per sources. The company may dispose their remaining stake in mobile tower operator Inwit SpA, valued at ~€300mn, adding to the planned sale of its Telecom Italia Sparkle SpA subsea unit, valued at €600-800mn. These planned asset sales come at a time when the company guided for a higher-than-expected debt forecast for the end-2024, whilst also noting that it would be able to meet its multi-year guidance even if its debt rose. Telecom Italia’s planned deal would add to the flurry of deals in the telecom sector led by the carrier and Vodafone’s €8bn agreement to sell its Italian business to Swisscom AG.
Telecom Italia’s dollar bonds were trading stable with its 6% 2034s at 91.5, yielding 7.16%
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