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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia S.p.A.    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
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Delayed Quote. Delayed Italian Stock Exchange - 01/22 11:41:46 am
0.3577 EUR   -1.35%
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Vivendi will complain to EU if Italy enacts law curbing its business - letter

11/18/2020 | 07:13am EST
FILE PHOTO: A logo is seen over the main entrance of the entertainment-to-telecoms conglomerate Vivendi's headquarters in Paris

ROME (Reuters) - French media firm Vivendi has told Italy it is ready to lodge a formal complaint with the European Commission over a draft law limiting its position in the country, according to a letter seen by Reuters.

The Paris-based company, controlled by billionaire Vincent Bollore, is a key player in Italy as it holds a 24% stake in former phone monopolist Telecom Italia (TIM) and 29% of top commercial broadcaster Mediaset.

Rome has drafted a law, under discussion in parliament, that would require Italy's communications watchdog to investigate for up to six months companies operating -- both directly or through other entities - in the telecoms and media sectors.

The bill "breaches the principles of legality and legal certainty and... the right to property, which are all protected by EU law and international conventions," Vivendi CEO Arnaud Depuyfontaine wrote in a Nov. 13 letter to Prime Minister Giuseppe Conte and the economy and industry ministers.

"Faced with the adoption of the amendment, Vivendi would regretfully have no other choice, in order to preserve its legitimate rights and interests, than filing a formal complaint with the EU Commission."

The French group sent a second letter with similar content to the European Commissioner for the internal market, Thierry Breton, three sources close to the matter told Reuters.

Two of the sources added that if the government pushed ahead with its draft law, Vivendi may withdraw its support for Rome's plan to create a national broadband operator by merging TIM's landline grid with state-backed company Open Fiber.

Vivendi declined to comment on this story.

(Reporting by Giuseppe Fonte and Elvira Pollina, editing by Gavin Jones and Elaine Hardcastle)

By Giuseppe Fonte and Elvira Pollina


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BOLLORÉ SE -0.28% 3.518 Real-time Quote.4.02%
MEDIASET -2.14% 2.102 Delayed Quote.0.77%
TELECOM ITALIA S.P.A. -1.35% 0.3577 Delayed Quote.-5.22%
VIVENDI SE -0.19% 26.56 Real-time Quote.0.68%
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Financials
Sales 2020 15 994 M 19 464 M 19 464 M
Net income 2020 1 130 M 1 375 M 1 375 M
Net Debt 2020 23 414 M 28 493 M 28 493 M
P/E ratio 2020 6,84x
Yield 2020 3,19%
Capitalization 7 816 M 9 514 M 9 511 M
EV / Sales 2020 1,95x
EV / Sales 2021 1,87x
Nbr of Employees 52 464
Free-Float 72,3%
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
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 0,52 €
Last Close Price 0,36 €
Spread / Highest target 132%
Spread / Average Target 44,7%
Spread / Lowest Target -35,7%
EPS Revisions
Managers and Directors
NameTitle
Luigi Gubitosi Chief Executive Officer & Executive Director
Salvatore Rossi Chairman
Stefano Siragusa Chief Operations Officer
Giovanni Ronca Chief Financial Officer
Michele Gamberini Chief Technology & Information Officer
Sector and Competitors