Telecom Italia (TI) plans to sell off Telecom Italia Mobile, Italy's No. 1 mobile-phone provider, according to a weekend media report.
The company's chairman, Marco Tronchetti Provera, is expected to announce the sale Monday, according to a report on
The Wall Street Journal's
Web site Sunday.
The most likely buyer would be a private equity firm, the report said, citing one adviser to Telecom Italia.
The sale would be a strategic about-face for Telecom Italia, which less than two years ago conducted a $27.88 billion merger with Telecom Italia Mobile, the report noted.
Last week, Tronchetti Provera met with News Corp. Chairman Rupert Murdoch about a content deal between their companies.
Telecom Italia shares gained 22 cents Friday to $28.64.