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Vodafone in Talks to Sell Internet Unit to Wind

The company is also considering going ahead with plans to take the unit public.
Author:

Vodafone Group

(VOD) - Get Report

is in exclusive discussions to sell its Italian Internet unit

Infostrada

to

Wind SpA

, a joint venture of

France Telecom SA

and

Enel SpA

.

The company confirmed it was in discussions with Wind in a faxed statement to

Bloomberg News

,

Dow Jones Newswires

TST Recommends

and

Reuters

.

The company is also considering going ahead with plans to take the unit public,

The Wall Street Journal

reported earlier Tuesday.

The company needs cash, in part, to pay for its acquisition of

Mannesmann

. In February Vodafone

announced it intends to buy Mannesman in a deal valued at about $181 billion.

Wind's bid consists of a combination of cash and high-rated bonds, worth about $10 billion, according to the

Journal

.

The newspaper said Vodafone was planning a public offering for 49.9% of Infostrada, which is still in the works unless the unit is sold.

Vodafone's American depositary receipts rose 81 cents, or 2%, to close at $38.31 Tuesday.