Telecom Italia says it has postponed the approval of its 2009 results and new business plan due to an investigation into alleged money-laundering activity at its Sparkle unit.

The earnings were scheduled for release on Friday, following a board meeting Thursday. They will instead be released next month.

Telecom Italia's Sparkle unit and competitor Fastweb SpA are both targets of a money-laundering and tax evasion investigation headed by anti-Mafia prosecutors in Rome. Telecom Italia says authorities confiscated 300,000 euros ($405,505) from Sparkle in connection with the probe.

Sparkle is a wholesale and retail telecommunications provider.