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
Delayed Borsa Italiana  -  05/20 11:35:23 am EDT
0.2722 EUR   -0.22%
05/20Italy's TIM, CDP eye preliminary deal on single network, sources say
RE
05/19Elon Musk to meet with Brazil's Bolsonaro, says report
RE
05/16European ADRs Move Higher in Monday Trading
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Telecom Italia slides as CEO weighs network spinoff in test for KKR bid

01/27/2022 | 05:04am EDT

MILAN, Jan 27 (Reuters) - Shares in Telecom Italia (TIM) fell as much as 2.8% on Thursday after the phone group said it would study a split of its network assets in a move that could further delay an answer to a takeover approach by U.S. fund KKR.

New Chief Executive Pietro Labriola on Thursday received unanimous board backing for a draft plan https://www.reuters.com/article/telecom-italia-ma-kkr-ceo/update-1-telecom-italia-open-to-network-spinoff-as-ceo-weighs-options-idINL1N2U622U that would see TIM focus on a wide range of telecoms services while carving out its fixed-line network to ensure the necessary investments and modernisation to meet Italy's digital goals.

The plan, which will be formally put to the board on March 2, provides a benchmark to weigh against KKR's proposal, which values TIM's equity at 10.8 billion euros ($12.09 billion), or 0.505 euros per share.

The New York-based fund's bid is non-binding and conditional on backing from TIM and the Rome government.

TIM shares were down 1% at 0.4055 euros at 0940 GMT, against a flat Italian blue-chip stock index.

"It is likely that no decision (not even letting start due diligence) will be taken before March 2," Banca Akros analysts wrote, adding that this increased the chances that KKR could drop its bid or decide to go hostile.

"The current context ... sees TIM's board struggling to find alternatives to KKR's cash offer."

TIM's single biggest investor, French media group Vivendi , has said KKR's offer is too low and it has sponsored the appointment of Labriola, which received unanimous board backing.

The network spin-off would comprise TIM's wholesale-only business. Sources had said it would include submarine cable unit Sparkle and a significant portion of the company's debt and staff.

Such a move would pave the way for the merger of TIM's fixed network with that of state-owned rival Open Fiber, as advocated by TIM's state investor CDP, which also owns 60% of Open Fiber. ($1 = 0.8930 euros) (Reporting by Elvira Pollina Editing by Valentina Za and David Goodman )


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
KKR & CO. INC. 2.58% 51.76 Delayed Quote.-30.52%
TELECOM ITALIA S.P.A. -0.22% 0.2722 Delayed Quote.-37.31%
VIVENDI SE 1.39% 10.94 Real-time Quote.-7.99%
All news about TELECOM ITALIA S.P.A.
05/20Italy's TIM, CDP eye preliminary deal on single network, sources say
RE
05/19Elon Musk to meet with Brazil's Bolsonaro, says report
RE
05/16European ADRs Move Higher in Monday Trading
MT
05/16GLOBAL MARKETS LIVE : Pfizer, Tesla, Holcim, Novartis, Ford...
05/16TIM clears first hurdle in securing state guarantees for $3.1 billion loan - sources
RE
05/13TIM signs network-sharing deal with Open Fiber to speed up rollout
RE
05/10Italy's TIM on track to secure state-backed credit line - sources
RE
05/09KKR Asks For Guarantees In Telecom Italia's Network Assets Merger Plan
MT
05/09KKR's doubts complicate TIM's single-network talks with CDP, sources say
RE
05/06Telecom Italia Announces the Appointment of Elio Schiavo as Chief Enterprise and Innova..
CI
More news
Analyst Recommendations on TELECOM ITALIA S.P.A.
More recommendations
Financials
Sales 2022 15 614 M 16 472 M 16 472 M
Net income 2022 131 M 138 M 138 M
Net Debt 2022 23 196 M 24 471 M 24 471 M
P/E ratio 2022 -55,4x
Yield 2022 1,81%
Capitalization 5 697 M 6 011 M 6 011 M
EV / Sales 2022 1,85x
EV / Sales 2023 1,80x
Nbr of Employees 51 893
Free-Float 77,0%
Chart TELECOM ITALIA S.P.A.
Duration : Period :
Telecom Italia S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TELECOM ITALIA S.P.A.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Last Close Price 0,27 €
Average target price 0,34 €
Spread / Average Target 23,5%
EPS Revisions
Managers and Directors
Pietro Labriola Chief Executive Officer & Director
Adrián Calaza Chief Financial Officer
Salvatore Rossi Chairman
Michele Gamberini Chief Technology & Information Officer
Stefano Siragusa Chief Revenue, Information & Media Office
Sector and Competitors
1st jan.Capi. (M$)
TELECOM ITALIA S.P.A.-37.31%6 011
VERIZON COMMUNICATIONS-5.50%208 008
CHINA MOBILE LIMITED12.07%142 762
NIPPON TELEGRAPH AND TELEPHONE CORPORATION23.33%107 605
DEUTSCHE TELEKOM AG12.39%96 092
CHARTER COMMUNICATIONS, INC.-26.53%76 993