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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Telecom Italia seeks enterprise unit buyers.

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Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ru... Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic
Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ru... Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic

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.

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