MILAN (Reuters) – Telecom Italia (TIM) has started talks with a pool of banks for credit lines worth around 3 billion euros ($3.3 billion) that could be partly guaranteed by Italy’s trade insurer SACE, two sources familiar with the matter said.
The debt-laden phone group has been hit by multiple rating downgrades following a record 2021 annual loss.
News about talks between TIM, SACE and banks over a potential 3 billion euro loan was first reported by Bloomberg News.
($1 = 0.9220 euros)
(Reporting by Elvira Pollina, Giuseppe Fonte; editing by Francesca Landini)
