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Telecom Italia to sell off its mobile unit under plans for restructuring with News Corp.(Telecom Italia Mobile S.p.A.)(Brief article)

European Telecom, October, 2006

According to Dow Jones, Telecom Italia is planning to sell off all or a part of one of its units, Telecom Italia Mobile, at an estimated cost $44 billion.

The move comes up as part of their intentions for restructuring the company as a broadband media and telephony content service provider, through a likely deal with News Corp.

Discussions are still on between the chairman for Telecom Italia, Marco Tronchetti Provera, and Rupert Murdoch from News Corp. over a possible agreement.

Under the agreement, the broadband portal operated by Telecom Italia would be supplied with content on sports, entertainment, and films from News Corp.

The company had already been speaking to many private equity funds in the US since July about a possible...

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