Telecom Italia denies process under way to sell TIM Partecipacoes

MILAN Wed Oct 9, 2013 2:04pm EDT

MILAN Oct 9 (Reuters) - Italy's Telecom Italia denied on Wednesday it had started a process to sell its 67 percent stake in Brazilian mobile carrier Tim Partecipacoes .

A source said earlier on Wednesday the company was considering a sale of the stake to reduce its heavy debt pile.

"Telecom Italia specifies that there is no formal or informal process ongoing for the disposal of its interest in TIM Partecipacoes," the Italian phone company said in a statement. (Reporting by Francesca Landini; Editing by Agnieszka Flak)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article