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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia    TIT   IT0003497168

TELECOM ITALIA

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Telecom Italia : S.p.A. chiede di porre termine agli obblighi di reporting in Canada

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09/12/2019 | 01:47pm EDT
Telecom Italia S.p.A. chiede di porre termine agli obblighi di reporting in Canada

12/09/2019 - 18:57

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Telecom Italia S.p.A. (TLIT.MI) ('TIM') ha richiesto alla Ontario Securities Commission un provvedimento che ponga fine ai suoi attuali obblighi di reporting in Ontario, Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Nova Scotia e Newfoundland e Labrador. TIM ha assunto la qualifica di 'reporting issuer' in Canada nel 1997 per effetto di un'offerta pubblica di American Depositary Receipts, rappresentativi di azioni della Società.

Negli Stati Uniti, a seguito del delisting dal New York Stock Exchange degli American Depositary Shares rappresentativi di azioni ordinarie e di risparmio della Società nel luglio 2019, TIM ha anche depositato apposito Form 15F presso la U.S. Securities and Exchange Commission, chiedendo la deregistration di tutte le classi di titoli registrati negli Stati Uniti, compresi i titoli di debito registrati emessi da TI Capital S.A. (società interamente controllata da TIM) e garantiti da TIM, e la cessazione dei suoi obblighi di reporting ai sensi del U.S. Securities Exchange Act of 1934. L'efficacia della deregistration negli Stati Uniti è attesa nell'intorno del 7 ottobre 2019.

Subordinatamente all'adesione da parte della Ontario Securities Commission all'istanza presentata da TIM, TIM cesserà di qualificarsi come reporting issuer in tutte le giurisdizioni canadesi e di pubblicare bilanci e altra documentazione ai sensi della normativa locale. La disclosure della Società resterà soggetta alla legislazione italiana e alla disciplina di Borsa Italiana, presso cui le azioni ordinarie e di risparmio di TIM sono quotate. I residenti canadesi avranno accesso alla documentazione pubblicata da TIM, in italiano e in inglese, sul sito internet della medesima (https://www.telecomitalia.com), oltre che sul sistema di stoccaggio centralizzato 1Info (www.1Info.it).

Forward-Looking Statements


This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such statements include, without limitation, statements relating to TIM's application for an order to cease to be a reporting issuer in the applicable jurisdictions in Canada, TIM's continued obligations to provide continuous and timely disclosure materials in accordance with applicable Canadian securities laws and the ability of Canadian securityholders to continue to have access to all financial statements and other documents required to be filed publicly by TIM and the means for accessing such filings.

The forward-looking statements are based on management's current expectations and beliefs concerning future developments and their potential effect on TIM based on information currently available to management. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting TIM will be those anticipated. Forward-looking information involves known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the OSC declining to grant the requested order and any change in approach with respect to TIM's continuous and timely disclosure obligations under applicable Italian law and stock exchange requirements. The forward-looking statements contained in this press release are made as of the date hereof and TIM undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, other than required by applicable securities laws.

Roma, 12 settembre 2019

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Disclaimer

Telecom Italia S.p.A. published this content on 12 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2019 17:46:03 UTC

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Financials (EUR)
Sales 2019 18 580 M
EBIT 2019 3 516 M
Net income 2019 1 314 M
Debt 2019 25 158 M
Yield 2019 1,80%
P/E ratio 2019 8,08x
P/E ratio 2020 7,55x
EV / Sales2019 1,93x
EV / Sales2020 1,90x
Capitalization 10 767 M
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Average target price 0,61  €
Last Close Price 0,52  €
Spread / Highest target 64,5%
Spread / Average Target 18,2%
Spread / Lowest Target -30,3%
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