Telefonica looking to sell Telecom Italia stake prior to GVT deal

• Telefonica (NYSE:TEF) does not want to remain a shareholder of Telecom Italia (NYSE:TI) once it finalizes its deal for Vivendi's (OTCPK:VIVHY) Brazilian wireline carrier GVT, says Chairman Cesar Alierta.
• Telefonica has already taken steps to sell part of its 14.8% stake in Telecom Italia, which it owns through holding company Telco.