Sawiris bids 5 bln euros for Telecom Italia stake - WSJ

MILAN Mon Nov 12, 2012 2:43am EST

MILAN Nov 12 (Reuters) - Egyptian businessman Naguib Sawiris has offered to invest as much as 5 billion euro ($6.4 billion) for a stake in Telecom Italia, the Wall Street Journal reported, quoting sources close to the company.

At current market values, the offer would be worth 30 percent of Italy's largest telecoms operator.

The newspaper said Telecom Italia chief executive Franco Bernabe brought the offer before the board for consideration last week.

Telecom Italia was not available for comment. ($1 = 0.7868 euro) (Reporting By Lisa Jucca; Editing by Dan Lalor)