TELECOM ITALIA has spent 950 million EUR buying the Internet arm of its subsidiary TELECOM ITALIA MEDIA. Its aim is to concentrate all of its Internet activities within TELECOM ITALIA. TIM, the operator's mobile telephony subsidiary, has sold 80.87% of TIM HELLAS TELECOMMUNICATIONS, its Greek mobile telephony arm, to an investment fund managed by APAX PARTNERS and TEXAS PACIFIC GROUP for 1.1 billion EUR.