UPDATE 2-T.Italia sees stable 2010 core earnings, sells unit

* 9-mth net profit 1.165 bln euros

* 9-mth revs 20.188 bln euros

* Sees stable 2010 EBITDA, growth in 2011

* Shares close up 2.1 pct in volatile session

(Adds conference call, more analyst comment, shares)

By Danilo Masoni

MILAN, Nov 5 (Reuters) - Italy's No. 1 telecoms operator, Telecom Italia SpA (TLIT.MI), forecast stable 2010 core profit and a return to growth in 2011 after posting a lower nine-month profit and announcing the debt-cutting sale of a unit.

The debt-laden company said on Thursday it had agreed to sell German broadband company HanseNet to Spain's Telefonica SA (TEF.MC), an investor in the Italian operator, for 900 million euros ($1.34 billion). [ID:nL5516722]

Minority shareholders and analysts questioned the price.

"It's not the best valuation (for Telecom Italia) but the impact on debt is positive," a Milan-based analyst said.

Shareholder Marco Fossati had asked that HanseNet not be sold for less than 1.5 billion euros. His family holding company Findim has a 5 percent stake in Telecom Italia. [ID:nL4214112] However, Chief Executive Franco Bernabe, who is gradually cutting costs and debt, said the HanseNet sale allowed the company to accelerate debt reduction. He also said cost cuts "were ahead of time".

The deal also allows the company to avoid a bond issue for the time being, the company said.

Shares in Telecom Italia closed up 2.1 percent at 1.1430 euros in a volatile session. The DJ Stoxx telecoms index .SXKP was up 1.23 percent.

"BACK ON TRACK"

Telecom Italia confirmed its profitability targets for 2009. It said adjusted net debt should fall to around 34 billion euros by the end of 2009, not taking into account the HanseNet sale, expected in the first quarter of 2010.