Telecom Italia says no plans or talks underway to sell Brazil unit

MILAN Thu Jan 16, 2014 11:35am EST

MILAN Jan 16 (Reuters) - Telecom Italia said on Thursday there were no plans or talks under way for a possible sale of its TIM Brasil unit.

In a statement after a board meeting, the Italian phone company said any extraordinary operation regarding its stake in the Brazilian company would follow so-called related party procedures.

Such a procedure, which envisages a review by independent directors, will be examined at a board meeting on Feb. 6, it said. (Reporting by Danilo Masoni, editing by Agnieszka Flak)