Italian firm Labruna Mazziotta Segni has bagged a plum role advising on the restructuring of Telecom Italia, a mandate that puts it in pole position to land a potential sell-off of the company’s units, worth around E40bn (£27bn).

The firm, which split from Italian giant Gianni Origoni Grippo & Partners in February, has been instructed to advise the telecoms giant on the deal, which will see it de-merge from its mobile division.