Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Telecom Italia S.p.A.
  6. News
  7. Summary
    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
  Report
Real-time Estimate Tradegate  -  07:41:19 2023-02-07 am EST
0.3000 EUR   +2.56%
05:52aEuropeans mixed; Saipem leads the Mib.
AN
03:48aMib just above 27,000; oil and energy lead
AN
02:44aEuropeans expected up, German production down
AN
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Italy PM tasks top aide with broadband strategy as bid for TIM grid falters

11/26/2022 | 07:06am EST

MILAN, Nov 26 (Reuters) - Italian Prime Minister Giorgia Meloni has given one of her top aides powers to oversee Rome's strategy on ultra-fast broadband networks as the new right-wing government reviews plans for the country's biggest telecoms company Telecom Italia (TIM).

Cabinet undersecretary Alessio Butti will now be in charge of the strategy, according to a decree on Friday seen by Reuters. Butti has been critical of the previous government's plan to cut TIM's 25 billion euro ($26 billion) debt pile by selling its landline grid.

The sale is a key plank of CEO Pietro Labriola's strategy to break up and revamp the battered company. State lender Cassa Depositi e Prestiti (CDP) has an end-November deadline to submit a preliminary bid for the landline grid, under a plan championed by Meloni's predecessor Mario Draghi.

The multi-billion euro offer would be part of a broader project to merge TIM's network with smaller rival Open Fiber, which is controlled by CDP.

Butti criticised such an approach and called for CDP to take over TIM, whose stock is trading close to record lows, with the aim to combine the former phone monopoly network assets with those of Open Fiber.

His so-called "Minerva" project also envisages TIM selling off its service operations as well as its unit listed in Brazil to cut its debt.

The state lender is TIM's second largest investor with a 10% stake. French media conglomerate Vivendi has a 24% holding.

CDP's plan for TIM has been complicated also by valuation divergences with Vivendi, which is demanding 31 billion euros to back a sale, at least 10 billion euros above the state lender's price tag, sources have said.

CDP still aims to submit a bid for TIM's infrastructure by Nov. 30 under a preliminary pact sealed in May, but has not yet received a government go-ahead, four sources familiar with the matter told Reuters on Friday.

Two of the sources said key government officials still had reservations about CDP's plan, and therefore the lender could freeze the offer for the network.

Meloni's office and CDP declined to comment.

Economy Minister Giancarlo Giorgetti, who plays a key role in the sale, on Tuesday reiterated that the government wants to win control of TIM's network which is deemed of strategic interest, adding such a goal can be reached in "several ways".

Earlier this month Giorgetti warned that Butti's plans for TIM needs to be extensively discussed within the government.

A meeting between the government and unions, aimed at discussing TIM's future, is scheduled for Nov. 28.

($1 = 0.9620 euros)

(Reporting by Elvira Pollina and Giuseppe Fonte; Editing by Lisa Shumaker and Clelia Oziel)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -0.07% 5.5157 Delayed Quote.-2.32%
TELECOM ITALIA S.P.A. 2.46% 0.2994 Delayed Quote.35.23%
VIVENDI SE -0.12% 9.846 Real-time Quote.10.59%
All news about TELECOM ITALIA S.P.A.
05:52aEuropeans mixed; Saipem leads the Mib.
AN
03:48aMib just above 27,000; oil and energy lead
AN
02:44aEuropeans expected up, German production down
AN
01:30aTelecom Italia reminds that KKR's offer lasts for four weeks
AN
02/06Mib, flicker in finish and close in green; TIM rises
AN
02/06World Press Review: February 6
MS
02/06EU Commissioner Calls for Review on Proposed Cross-border Telco Mergers
MT
02/06Telecom segment in green; TIM in the spotlight
AN
02/06EU's Breton urges rethink on cross-border telecoms mergers
RE
02/06Handbags still down after Eurozone retail sales
AN
More news
Analyst Recommendations on TELECOM ITALIA S.P.A.
More recommendations
Financials
Sales 2022 15 699 M 16 855 M 16 855 M
Net income 2022 -1 631 M -1 751 M -1 751 M
Net Debt 2022 23 717 M 25 464 M 25 464 M
P/E ratio 2022 -3,11x
Yield 2022 0,57%
Capitalization 6 183 M 6 638 M 6 638 M
EV / Sales 2022 1,90x
EV / Sales 2023 1,91x
Nbr of Employees 51 887
Free-Float 74,7%
Chart TELECOM ITALIA S.P.A.
Duration : Period :
Telecom Italia S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TELECOM ITALIA S.P.A.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 0,29 €
Average target price 0,31 €
Spread / Average Target 5,07%
EPS Revisions
Managers and Directors
Pietro Labriola Chief Executive Officer & Director
Adrißn Calaza Chief Financial Officer
Salvatore Rossi Chairman
Stefano Siragusa Chief Revenue, Information & Media Office
Herculano AnÝbal Alves Chief Technology Officer
Sector and Competitors