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    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
  Report
Delayed Borsa Italiana  -  11:37:36 2023-02-07 am EST
0.2991 EUR   +2.26%
12:06pMilan rises to 27,100; high volumes on Tesmec
AN
11:14aItaly's CDP sounds out banks, funds on rival bid for TIM grid, sources say
RE
05:52aEuropeans mixed; Saipem leads the Mib.
AN
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New government takes fresh look at options for Telecom Italia

11/28/2022 | 05:57am EST
FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan

MILAN (Reuters) - Italy's new government was on Monday reviewing options for the future of former phone monopoly Telecom Italia as uncertainty grew about a planned bid for its landline grid by state investor CDP.

Championed by the previous government of Mario Draghi, the multi-billion-euro bid is part of a broader plan to combine TIM's network assets with those of smaller rival Open Fiber to create a unified broadband champion under CDP's control.

Due by this Wednesday, Nov. 30, an offer is also central to TIM CEO Pietro Labriola's plans to break-up the struggling phone group and cut its 25 billion euro ($26 billion) debt.

But key officials in Giorgia Meloni's right-wing government have expressed strong reservations over the plan, raising doubts over whether CDP will be able to submit its offer, sources told Reuters on Friday.

A government source did not rule out Meloni's decision on TIM could come as early as Monday.

The prime minister is also due to hold talks on Monday with union officials from TIM, which has more than 40,000 staff.

Marking a break with the past, Meloni on Friday entrusted the government's broadband strategy to Cabinet Undersecretary Alessio Butti, who has openly criticised CDP's plans for TIM.

Butti has called instead on CDP to take over cash-bleeding TIM in full to then sell its service operations, including its Brazil-listed unit.

Fresh uncertainty over its future is hitting TIM at a time when rising rates increase the drain on the group's cash flow from interest payments.

TIM shares fell as much as 4% in early trade, but by 1040 GMT they had reversed losses and were up slightly.

"How the government intends to reach its stated objective to have a (single) telecommunications grid in public hands remains unclear," Intesa Sanpaolo wrote in a research note.

"The timing to find a path starts to narrow considering that TIM's available liquidity covers debt maturities until mid-2024 and debt refinancing looks tougher than in the past."

($1 = 0.9549 euros)

(Reporting by Elvira Pollina and Giuseppe Fonte; writing by Valentina Za; Editing by Keith Weir)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.04% 5.5791 Delayed Quote.-2.32%
INTESA SANPAOLO S.P.A. 0.88% 2.4685 Delayed Quote.17.76%
TELECOM ITALIA S.P.A. 2.26% 0.2991 Delayed Quote.35.23%
All news about TELECOM ITALIA S.P.A.
12:06pMilan rises to 27,100; high volumes on Tesmec
AN
11:14aItaly's CDP sounds out banks, funds on rival bid for TIM grid, sources say
RE
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
More news
Analyst Recommendations on TELECOM ITALIA S.P.A.
More recommendations
Financials
Sales 2022 15 699 M 16 790 M 16 790 M
Net income 2022 -1 631 M -1 744 M -1 744 M
Net Debt 2022 23 717 M 25 366 M 25 366 M
P/E ratio 2022 -3,18x
Yield 2022 0,56%
Capitalization 6 328 M 6 768 M 6 768 M
EV / Sales 2022 1,91x
EV / Sales 2023 1,92x
Nbr of Employees 51 887
Free-Float 74,7%
Chart TELECOM ITALIA S.P.A.
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Telecom Italia S.p.A. Technical Analysis Chart | MarketScreener
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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 18
Last Close Price 0,30 €
Average target price 0,30 €
Spread / Average Target 1,77%
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