Telecom Italia needs more time to decide on INWIT stake sale: board member

Telecom Italia's new logo for the TIM brand is seen on a building in Rome, Italy February 18, 2016. REUTERS/Tony Gentile

MILAN (Reuters) - Telecom Italia TLIT.MI has taken no decision on a planned sale of a stake in tower unit INWIT INWT.MI, board member Tarak Ben Ammar said on Thursday, adding that more time was needed.

Both Italy's EI Towers EIT.MI, the mast company controlled by broadcaster Mediaset MS.MI, and a consortium of Spain's Cellnex CLNX.MC and Italian infrastructure fund F2i have presented binding offers for an INWIT stake, sources told Reuters.

Asked whether the board had full confidence in Telecom Italia CEO Marco Patuano, Ben Ammar said there was “nothing negative for now, nothing new on the Western front”.

Reporting by Stefano Rebaudo, writing by Agnieszka Flak