ROME—Telecom Italia has agreed to sell its 26.89-percent stake in Spanish telecom operator Auna for $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 half of 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 $1 billion.
Auna owns the third-largest Spanish mobile operator Amena.
