A memorandum sent out by Hutchison Whampoa soliciting interest for its 3 Italia unit could mean a sale of the UK assets will also be imminent, writes The Times This is because the market has long assumed that an Italian divestment would precede one in the UK, although the operator has given no indication of wanting to sell up in Blighty. The Italian operation serves some 7.7 million subscribers, making it the biggest of 3’s operations (3 reported 15.9 million subscribers worldwide in August), and it could fetch up to 10 billion euros ($14 billion).

SEE ALSO: Hutchison Delays 3 Italia IPO, Sells 10% Of Unit For $498m

Hutchison has not made a comment on the existence of the memorandum. It’s worth pointing out though that it has wanted to sell 3 Italia for some time now. In 2006, it shelved IPO plans when it considered valuations to be too low. Current losses at 3 overall—they were HK$11.3 billion ($1.45 billion) in the first half of this year, combined with a decline in ARPUs in the Italian unit (down 7 percent to 31.54 euros, or $44.78), could be behind this latest bit of news. The operator is already in talks with rival mobile concern Wind to potentially share its transmission towers, in a deal worth 2 billion euros ($2.8 billion).