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Debt-hit Telecom Italia reduces growth target

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Debt-hit Telecom Italia reduces growth target

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Telecom Italia reduced its medium-term revenue growth target and says it is looking to make further savings to slash its 34 billion euro debt,which has hampered investment.

Telecom Italia set aside 507 million euros for its Sparkle unit, which is facing a money laundering probe.

Poor domestic sales also hit the company.