Nov. 10 (Bloomberg) -- Telecom Italia SpA received at least five offers for its 50 percent stake in Telecom Argentina SA, Valor Economico reported, citing an unidentified executive from the company’s headquarters in Italy.

Telecom Italia plans to sell the stake only if it gets a ‘fair’ price for it, the Sao Paulo-based newspaper said. The company does not rule out going to court to avoid having to sell the asset, Valor said.

In August, Argentina’s antitrust agency asked the government to order Telecom Italia to sell its stake in Telecom Argentina SA within a year, citing a conflict of interest. Telefonica SA and Telecom Italia control the country’s two biggest phone companies.

To contact the reporter on this story: Helder Marinho in Rio de Janeiro hmarinho@bloomberg.net.

Last Updated: November 10, 2009 05:36 EST