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    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
  Report
Real-time Estimate Cboe Europe  -  11:35 2022-10-07 am EDT
0.1870 EUR   -0.74%
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Italy's TIM to shift half of domestic staff into NetCo - sources

07/04/2022 | 04:16am EDT
FILE PHOTO: The Tim logo is seen at its headquarters

MILAN (Reuters) - Telecom Italia (TIM) plans to shift about 21,000 workers, or nearly half of its 42,500 staff in Italy, into a network company it intends to create as part of its restructuring plan, two sources familiar with the matter said. The so-called NetCo comprises TIM's domestic fixed access network and international submarine cable unit Sparkle, and would assume about 10-11 billion euros of the debt held by Italy's biggest telecoms group, the people added.

Cash proceeds stemming from a potential network deal with Open Fiber will help further reduce TIM's debt pile below 10 billion euros, one of the sources said. As of March 31, TIM's net debt stood at around 23 billion euros.

(Reporting by Elvira Pollina; Editing by Keith Weir)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
TELECOM ITALIA S.P.A. -0.69% 0.1871 Delayed Quote.-56.61%
VIVENDI SE -2.93% 7.878 Real-time Quote.-31.74%
All news about TELECOM ITALIA S.P.A.
10:50aItaly's INWIT elevates CFO Galli to general manager role
RE
10/06Iliad enters in fibre deal with Fastweb to expand broadband offer in Italy
RE
10/03Italy strengthens surveillance on underwater cables, source says
RE
09/30Analysis-European telcos set to win fight with Big Tech, could set global agenda
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09/28Italy's CDP Nears Initial Bid For TIM's Landline Grid
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09/27Renault boss de Meo quits Telecom Italia's board of directors
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09/27Italian state lender CDP readies offer for TIM's network after national vote
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09/27TELECOM ITALIA S.P.A. : Changes in management and corporate office..
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09/25Factbox: Companies potentially affected by Italy's election
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09/22Telecom Italia S P A : TIM joins the 'European Green Digital Coalition', the...
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Analyst Recommendations on TELECOM ITALIA S.P.A.
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Financials
Sales 2022 15 679 M 15 328 M 15 328 M
Net income 2022 -198 M -193 M -193 M
Net Debt 2022 23 477 M 22 951 M 22 951 M
P/E ratio 2022 -13,5x
Yield 2022 1,07%
Capitalization 3 941 M 3 853 M 3 853 M
EV / Sales 2022 1,75x
EV / Sales 2023 1,77x
Nbr of Employees 52 003
Free-Float 74,7%
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Technical analysis trends TELECOM ITALIA S.P.A.
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TrendsNeutralBearishBearish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 20
Last Close Price 0,19 €
Average target price 0,30 €
Spread / Average Target 60,6%
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Managers and Directors
Pietro Labriola Chief Executive Officer & Director
Adrián Calaza Chief Financial Officer
Salvatore Rossi Chairman
Stefano Siragusa Chief Revenue, Information & Media Office
Herculano Aníbal Alves Chief Technology Officer
Sector and Competitors