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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Cisco Systems, Inc.    CSCO

CISCO SYSTEMS, INC.

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Exclusive: TIM excludes Huawei from 5G core equipment tender in Italy, Brazil - sources

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07/09/2020 | 10:13pm EDT
FILE PHOTO: Telecom Italia logo is seen at the headquarter in Rozzano neighbourhood of Milan

Telecom Italia (TIM) has excluded China's Huawei Technologies from a tender for 5G equipment for the core network it is preparing to build in Italy and Brasil, two sources familiar with the matter said on Thursday.

The list of invited suppliers comprises Cisco, Ericsson, Nokia, Mavenir and Affirmed Networks, a company recently acquired by Microsoft, one of the two sources said.

Representatives for Huawei in Italy and Brazil declined to comment.

The move comes amid reports that Italy is considering whether to exclude Huawei from building its 5G network over concerns it could open the way for China to spy on key Western telecoms infrastructure.

Huawei on Thursday defended its record as a private sector infrastructure group and said "the security and development of digital Italy should be based on an approach grounded in facts and not baseless allegations."

The U.S. government has urged its allies to exclude the Chinese telecoms giant from the West's next-generation communications.

The United Kingdom will publish this month a government update on the Chinese company after granting it only a limited role in building Britain's 5G network.

The head of French cybersecurity agency ANSSI ruled out a total ban on Huawei equipment for 5G networks in a newspaper interview on Sunday, but said French telcos were being encouraged to avoid switching to the Chinese company.

Huawei has played no part in the building of TIM's existing core network in Italy, while the exclusion could mark a change of course for TIM in Brazil, where Huawei has supplied 4G equipment for the core network of the Italian group's local unit TIM Participacoes.

So-called core networks are where sensitive data is processed.

Huawei has successfully conducted 5G tests with all of Brazil's major carriers including TIM Brasil and is helping them modernize their infrastructure ahead of a 5G spectrum auction.

A person with knowledge of TIM Participacoes' plans said another tender for purchasing 5G gear is likely to be carried out in Brazil once the new frequencies are auctioned by the government, which is expected to happen next year.

"When the auction for the purchase of 5G equipment takes place in Brazil, prices guaranteed to Italy by suppliers there will serve as a ceiling reference above which TIM Brasil will not buy," the source said, adding Huawei could still participate in the second tender if President Jair Bolsonaro's administration allows it.

The Brazilian leader, a former army captain and close ally of U.S. President Donald Trump, said last month that 5G deployment would have to meet national sovereignty, information and data security requirements.

A Huawei executive this week warned that Brazil could suffer years of delay in deploying 5G network and higher costs if it succumbed to U.S. pressure to snub the Chinese supplier.

(Reporting by Elvira Pollina, additional reporting by Gabriela Mello in Sao Paolo, writing by Valentina Za, editing by James Mackenzie, Alexandra Hudson and Nick Zieminski)

By Elvira Pollina
Stocks mentioned in the article
ChangeLast1st jan.
CISCO SYSTEMS, INC. -0.52% 42.5 Delayed Quote.-10.93%
ERICSSON AB -2.33% 100.55 Delayed Quote.26.23%
EURO / BRAZILIAN REAL (EUR/BRL) 1.22% 6.419 Delayed Quote.42.12%
MICROSOFT CORPORATION 0.10% 208.9 Delayed Quote.32.34%
NOKIA OYJ -0.92% 4.211 Delayed Quote.28.94%
TELECOM ITALIA S.P.A. 0.85% 0.3786 Delayed Quote.-32.53%
TIM PARTICIPAÇÕES S.A. 0.86% 15.24 End-of-day quote.-2.74%
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Financials (USD)
Sales 2020 49 243 M - -
Net income 2020 11 121 M - -
Net cash 2020 13 111 M - -
P/E ratio 2020 16,2x
Yield 2020 3,34%
Capitalization 179 B 179 B -
EV / Sales 2020 3,38x
EV / Sales 2021 3,36x
Nbr of Employees 75 900
Free-Float 100,0%
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 49,96 $
Last Close Price 42,50 $
Spread / Highest target 52,9%
Spread / Average Target 17,5%
Spread / Lowest Target 1,18%
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Managers
NameTitle
Charles H. Robbins Chairman & Chief Executive Officer
Tiang Yew Tan Chief Operations
Kelly A. Kramer Chief Financial Officer & Executive Vice President
Chuck Churchill Director-IT
Roderick C. McGeary Independent Director
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