Telecom Italia's shares fell over 6% on Thursday, hitting an all-time low as the Italian government's collapse is likely to hamper plans for the creation of a single network.

Italy's biggest telecoms company could cut more than 9,000 jobs by 2030 and is ready to offload its fixed network business to reshape the debt-laden former telecoms monopoly.

Moody's retained a 'negative' outlook for the company and its entities. (https://bit.ly/3BoSFnd)

"The macroeconomic environment has deteriorated since we downgraded [Telecom Italia's] rating to Ba3 in March, reducing the visibility on Telecom Italia's operating performance and its expected deleveraging path", Moody's said.

(Reporting by Akanksha Khushi in Bengaluru)