According to Bloomberg News, Telecom Italia (TLIT.MI) may sell a minority stake in its enterprise unit for more than 6 billion euros ($6.6 billion).
Bloomberg said that the company’s CEO Pietro Labriola sent invitation letters to potential investors earlier this month to reduce its 30 billion euros ($33 billion) gross debt.
Telecom Italia didn’t respond to Reuters’ request for comment.
Last year, the business sold a minority stake in its enterprise service subsidiary. The enterprise business section includes the phone group’s cloud, cybersecurity, and IoT businesses.
CVC Capital Partners’ nonbinding offer for up to 49% of the telecom company’s enterprise unit was rejected last year.
