ROME—Telecom Italia has agreed to sell its 26.89-percent stake in Spanish telecom operator Auna for US$1.8 billion. The other Auna shareholders will each take part of the holding.
Banco Santander Central Hispano will buy half the stake, and Endesa and Union Fenosa will each take one-half the remaining shares.
Telecom Italia said the sale is part of its plan to focus on core businesses and dispose of its minority holdings. Telecom Italia will register a consolidated net capital gain of about US$1 billion.
Auna owns the third-largest Spanish mobile operator Amena.
