Telecom Italia sees offers for Brazil towers by end-May

MILAN Tue May 13, 2014 6:12am EDT

MILAN May 13 (Reuters) - Italian telecoms group Telecom Italia expects non-binding offers for its mobile communications towers in Brazil by the end of May, according to slides for an analyst presentation of its quarterly results.

The group is selling assets, including the Brazilian towers, to help cut debt of more than 27 billion euros and fund investments in network upgrades, as it seeks to achieve flat revenue and profit growth in 2016.

Earlier on Tuesday, Telecom Italia posted an 8.4 percent fall in first-quarter core profit to reflect declining sales in Italy and a weaker currency in Brazil.

(Reporting by Danilo Masoni; editing by Francesca Landini)