Telecom Italia has selected Deutsche Bank as adviser in the sale of its mobile phone towers in Italy. The sale of the 11,000 towers could bring in around EUR 1 billion and the company is looking to complete the operation before the end of 2014. The sale of mobile phone towers in Italy and Brazil were just two of the cost-cutting measures announced by Telecom Italia at the end of 2013 as part of a wide-ranging plan to bring down its EUR 28 billion debt.