October 9, 2013 / 6:07 PM / 4 years ago

Telecom Italia denies process under way to sell TIM Partecipacoes

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)

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