The Italian government is looking to raise around €25m (£21m) from the private sector to help pay for the restoration of Rome's iconic Colosseum.

The culture ministry said that it will accept bids from possible sponsors from 4 August until 15 September, adding that they will be able to "promote their image" but that any ads will have to be compatible with the 2,000-year-old structure. The work, which could possibly begin as soon as October this year and take around three years to complete, would include restoration of the facade, modernising the electrical, surveillance and lighting systems and creating a new visitors centre.

After the restoration, visitors would have access to parts of the monument currently not open to the public. It is also reported that the authorities in Rome are contemplating bringing in a tourist tax for hotels and some museums, a move expected to raise around €50m (£41.5m).