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-Telecom Italia to be unaffected by potential Matrix sale - brokers.


12 December 2011 - Italian brokers have estimated that Telecom Italia's (BIT:TIT) possible sale of its Internet unit Matrix would have just a limited impact on the evaluation of the telecoms group.

According to Italian business daily Il Sole 24 Ore, Telecom Italia is reportedly thinking over selling Matrix, the owner of the Virgilio search engine, for EUR200m (USD265m) compared with a book value of EUR164m at the end of 2010.

Both Equita and Intermonte said the impact on Telecom Italia's stock would be only limited even if the possible capital gain would help abate the expenditure for the new frequency tenders.

Telecom Italia had lost 1.95% to EUR0.831 at 13:53 CET on the Milan stock market on Monday.

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Publication:Internet Business News
Date:Dec 12, 2011
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