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T.Italia, Iliad in exclusive talks on Alice sale

Mon Jun 9, 2008 1:38am EDT

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MILAN, June 9 (Reuters) - Telecom Italia SpA (TLIT.MI) on Monday said it was in exclusive talks to sell its French unit Alice to Iliad (ILD.PA) on the basis of an enterprise value of 800 million euros ($1.25 billion).

The sale should be concluded by the end of September, Telecom Italia said in a statement.

Iliad is the parent firm of Internet service provider Free. By adding the 940,000 subscribers to Alice's Internet, ADSL telephony and televison services, Iliad would become France's number-two Internet provider behind France Telecom's (FTE.PA) Orange.

(Reporting by Mathias Wildt)



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