Italian Seeks Argie Sale

Telecom Italia has received an offer worth $1bn for a stake in its Argentina unit, it says. The shedding of the 22.7% stake is part of a larger plan to raise funds that included a EUR1.3bn ($1.74bn) convertible bond sale. The company does not make any comments about strategy for its largest LatAm asset, a majority stake in Brazilian mobile phone operator TIM Participacoes – which has also been the subject of speculation.