Sales in alternative revamp for TIM could raise at least 16 billion euros

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ROME -The sale of Telecom Italia's domestic retail business and its Brazilian unit could raise at least 16 billion euros , a former senior executive of the phone group said in an interview published on Thursday.

Under this alternative scheme, dubbed TimValue, TIM would retain its entire fixed network business as well cloud and digital services operations, while selling its Italian retail business and its prized Brazilian subsidiary to cut its heavy debts. He said that TIM's top investor Vivendi, which has raised major reservations over the sale of the fixed line network, was not"behind" TimValue.

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