MILAN Nov 13 The Egyptian tycoon Naguib Sawiris
has offered to buy a stake in Telecom Italia with a
view to helping fund the acquisition of Vivendi's 's GVT
unit in Brazil, Italian newspapers said on Tuesday.
Sawiris, who sold out of the rival Wind network last year,
now wants to re-enter Italy's telecoms sector by investing in
the incumbent operator.
Telecom Italia says Sawiris's offer is aimed at bringing in
fresh capital "dedicated to growth projects".
According to Il Messaggero, Sawiris wants to invest 3-4
billion euros in Telecom Italia to back its bid for Brazil's
Global Village Telecom which is being sold by Vivendi.
A report in Corriere della Sera also says the money from
Sawiris would help finance the purchase of GVT.
French communications conglomerate Vivendi SA is seeking to
raise at least 7 billion euros($8.9 billion) from the sale of
GVT and has attracted expressions of interest from at least four
bidders, including Telecom Italia.
The shareholders of Telco, the vehicle that controls Telecom
Italia, are split on their approach to the Sawiris offer, Il
Sole 24 Ore said.
Intesa Sanpaolo is in favour, Mediobanca is
neutral while insurer Assicurazioni Generali and
Spain's Telefonica are against, it said.
The paper added the Sawiris offer is 3 billion euros.