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AndreA · 23-01-2006, 09:14

Telecom Italia Sells Venezuela Mobile Operator

ROME -(Dow Jones)- Telecom Italia said Friday it had sold its Venezuela mobile phone unit Digitel Venezuela for $425 million, the proceeds of which the Italian telecommunications company said would be entirely used to cut debt.

Telecom Italia said it had sold Digitel Venezuela, the South American country's leading GSM operator with more than 1.7 million customers and revenues of some EUR287 million last year, to Oswaldo Cisneros' Telvenco.

Telecom Italian said the sale of its wholly-owned Venezuela unit was part of its strategy of focusing on countries where it has a national license and it can exploit the benefits of convergence between fixed-line and mobile telecommunications platforms.

Last year, Telecom Italia sold its mobile telephone business in Peru for EUR407 million.

(END) Dow Jones Newswires

	(#1)
AndreA (Offline) Administrator Prepaid Genius Posts: 1,650 Join Date: 13 Jan 2004 Location: Florence, Italy Country:	23-01-2006, 09:14 Telecom Italia Sells Venezuela Mobile Operator ROME -(Dow Jones)- Telecom Italia said Friday it had sold its Venezuela mobile phone unit Digitel Venezuela for $425 million, the proceeds of which the Italian telecommunications company said would be entirely used to cut debt. Telecom Italia said it had sold Digitel Venezuela, the South American country's leading GSM operator with more than 1.7 million customers and revenues of some EUR287 million last year, to Oswaldo Cisneros' Telvenco. Telecom Italian said the sale of its wholly-owned Venezuela unit was part of its strategy of focusing on countries where it has a national license and it can exploit the benefits of convergence between fixed-line and mobile telecommunications platforms. Last year, Telecom Italia sold its mobile telephone business in Peru for EUR407 million. (END) Dow Jones Newswires ANTPEAΣ AΠO THN ΦΛΩPENTIA My Phones: iPhone 2G, E65, N70, P910 DVB-H, A835, 6630, 7600, 6210, S55, T39 "Working" PrePaids: IT: Wind, H3G, Vodafone, Tim, CoopVoce, Poste Mobile, Telepass Mobile, Uno Mobile - CH: OrangeClick - RSM: Prima Easy - UK: O2, H3G - INT: United Mobile, TravelSim, ICQ SIM "Deceased" PrePaids: IT: Blu - AT: H3G - FR: Itineris - ES: Yoigo - GR: Cosmote, Frog - HR: Tele2 - UK: Virgin, Orange TO: UCall - NZ: Vodafone - IN: Hutch - CAN: Fido - USA: T-Mobile - INT: Travelfone, CallKey, Globalsim, HopMobile, GT, 09, Mobal, Yackiemobile ITALIAN TLC BLOG