Telecom Italia seeks 3 billion euro credit line with state guarantee - sources

FILE PHOTO: The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo

MILAN (Reuters) -Telecom Italia (TIM) has started talks with a pool of banks for a new credit line worth around 3 billion euros ($3.3 billion) that could be partly guaranteed by Italy's trade insurer SACE, three sources familiar with the matter said.

The debt-laden former phone monopoly, hit by multiple rating downgrades following a record annual loss last year, is pressing ahead with plans to reorganise its business by spinning off assets.