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Telecom Italia board authorizes CEO to sell Persidera stake

Telecom Italia SpA's board authorized CEO Amos Genish to finalize a deal to sell the company's stake in Persidera and to consider other offers.

Directors agreed that the stake in Persidera is "not a strategic asset" for the Italian operator, according to a Form 8-K filed Feb. 23.

Infrastructure fund F2i and tower company Rai Way SpA has an existing offer to acquire Telecom Italia's stake in Persidera.