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Telecom Italia said its spun-off landline assets unit, NetCo, will generate organic earnings.

Telecom Italia SpA is seeking to accelerate a turnaround plan through an asset spinoff plan that would see the former phone monopolist give up control of its most valuable piece, the network.
The company’s board on Wednesday gave a mandate to Chief Executive Officer Pietro Labriola to cede control of its grid and cut the company’s more than 30 billion euros ($31 billion) in gross debt by breaking the phone carrier up into several separate units and looking to attract new partners. 


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