Telecom Italia is to divest its non-core assets with the intention of focusing on Italy and on developing business in Latin America. These non-core holdings include stakes in: Telekom Austria; the Austrian mobile subsidiary of Telekom Austria, Mobilkom; Aria of Turkey; and Telecom Serbia. The divestments at the Telecom Italia level are expected to generate up to E5 billion over the next two years, while the disposals at the Olivetti level should bring in around E1 billion over the same period.