Telecom Italia Said to Seek $21.5 Billion for Landline Grid

Jan 20, 2024

Fiber optic cables in an optical line splitter in a Telecom Italia SpA telephone exchange in Rome.

Daniele Lepido

Telecom Italia SpA is seeking an enterprise value of around 20 billion euros ($21.5 billion) for the landline network it plans to sell to Italy's state lender and a group of international funds, according to people with knowledge of the matter.

The company's shares rose as much as 5.9% and traded up 4.5% at 10:33 a.m. in Milan following Bloomberg's initial report of the plan. That marked the best performance on Italy's benchmark FTSE MIB index, giving the carrier a market value of about 6.4 billion euros.