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Italian Right Plans to Take Telecom Italia Private, Halve Debt

  • Brothers of Italy party envisages massive asset disposals
  • Project would mean Telecom Italia keeps network ownership
An election poster of Giorgia Meloni, in Rome, on Aug. 10. 

An election poster of Giorgia Meloni, in Rome, on Aug. 10. 

Photographer: Alessia Pierdomenico/Bloomberg
Updated on

Italy’s far-right Brothers of Italy party, which is leading polls ahead of snap elections next month, is promoting a plan to take Telecom Italia SpA private and sell off the phone company’s assets in a bid to cut its debt pile by more than half, people familiar with the matter said. The shares jumped.

The group would encourage a takeover bid by state lender Cassa Depositi e Prestiti, then sell about 30 million of Telecom Italia’s mobile and landline subscribers to competitors for about 13 billion euros ($13.4 billion), the people said, asking not to be identified because the plan is private. The state would also sell the phone company’s Brazilian unit for about 4 billion euros, they said.