Telecom Italia chief seeks quick Vodafone deal on Inwit

|About: Telecom Italia S.p.A. (TI)|By:, SA News Editor

Telecom Italia (OTC:TI) chief Luigi Gubitosi says he's looking for an agreement with Vodafone (NASDAQ:VOD) over merging towers into Inwit by the day of a board meeting set for Aug. 1, Bloomberg reports.

They're exploring a deal to merge 22,000 passive telecom towers into a single entity.

Meanwhile, TI's board may review a plan to sell €2B worth of assets in areas considered nonstrategic -- such as consumer credit and data centers, and including €1B coming from an Inwit transaction.

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