TIM and Santander agree to consumer credit joint venture
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MILAN/MADRID (Reuters) - Italy's Telecom Italia (TIM) and Spanish lender Banco Santander have agreed to set up a joint venture to provide consumer-credit services in Italy, the companies said on Thursday, confirming earlier reporting by Reuters.The deal should help TIM to free up capital and reduce its credit risk, while establishing Santander as a leading provider of consumer finance in Italy. Initially the unit will offer TIM's clients loans to buy mobile devices and will subsequently..