TIM, Vodafone launch sale of 8% stake in Italy's INWIT

MILAN (Reuters) - Telecom Italia (TIM) and Vodafone said on Wednesday they had agreed to launch the sale of an 8% stake in Italy's biggest mobile tower company INWIT on a pro-rata basis as part of their efforts to cut debt.After the 80 million share sale, Vodafone and TIM, which hold a 37.5% stake each in INWIT, will continue to retain joint control and an equal stake in the tower group, the two companies said in separated statements.The shares will be placed with institutional investors..