TELECOM ITALIA has sold en masse its stakes in the satellite companies EUTELSAT (20.5%), INTELSAT (2.8%), INMARSAT (2.1%) and NEW SKIES SATELLITES (3.9%) to merchant bankers THE LEHMAN BROTHERS for a total of EUR 550 million. With this in mind, the Italian company will create a new company called NEWCO, 70% of which will be controlled by LEHMAN BROTHERS MERCHANT BANKING PARTNERS and 30% by TELECOM ITALIA.