MILAN: Telecom Italia SpA is seeking a valuation of around 20bil (US$21.5bil or RM94bil) for the landline network it plans to sell to a state lender and international funds, according to people with knowledge of the matter.
The proceeds would allow the former phone monopoly to cut its multi-billion dollar debt pile, accelerating chief executive officer Pietro Labriola’s turnaround plan, said the people, who asked not to be named because the internal calculation isn’t public.
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