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Telecom Italia delays 2009 results

Telecom Italia has delayed approving its 2009 results due to a probe into a money-laundering racket involving its Sparkle unit and broadband group Fastweb that could amount to more than €2bn (£1.8bn). Europe's No.5 telecoms operator said it estimated virtually flat core profits, but had not approved the figures after authorities seized €300m from Sparkle in the probe.