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    TIT   IT0003497168

TELECOM ITALIA S.P.A.

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Italy to impose cap in tender for broadband rollout, sources say

01/13/2022 | 02:01pm EDT

ROME, Jan 13 (Reuters) - Italy plans to cap the number of lots a broadband provider or a consortium of operators can win in public tenders to expand ultra-fast connectivity across the country, three sources close to the matter told Reuters.

The government is preparing to divide the areas put out to tender into 15 lots and wants to prevent a single bidder from winning more than eight of them, the sources said, cautioning that the terms were not yet finalised.

Rome will deploy 3.8 billion euros ($4.36 billion) of European Union recovery funds to ensure the whole of the country can access 1 gigabyte per second fixed Internet connectivity by 2026.

The programme is part of government efforts to develop Italy's digital economy, which lags those of its major European peers.

European Union authorities informally urged Italy to set a 50% cap on broadband lots that can be assigned to single firms or consortiums to ensure competition is preserved, Reuters reported in November.

The idea of a cap is consistent with the line favoured by Innovation Minister Vittorio Colao, a former Vodafone CEO, who has said protecting competition is the best way to promote ultra fast fibre rollout.

Colao's office said it planned to publish the call for tenders by the end of January, and the sources told Reuters they may be issued as soon as Friday. Rome plans to award the contracts by June.

The funding scheme aims to cover about 7 million homes where no broadband operator offers or plans to offer download connectivity of at least 300 Megabits per second.

The tender process comes as Italy's telecoms sector is in flux due to a proposal by U.S. private equity giant KKR to take over Telecom Italia (TIM).

($1 = 0.8724 euros) (Reporting by Giuseppe Fonte and Elvira Pollina, editing by Gavin Jones, Kirsten Donovan)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ON SEMICONDUCTOR CORPORATION 0.70% 56.46 Delayed Quote.-16.87%
TELECOM ITALIA S.P.A. -0.22% 0.2722 Delayed Quote.-37.31%
VIVENDI SE 1.39% 10.94 Real-time Quote.-7.99%
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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%
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Mean consensus HOLD
Number of Analysts 20
Last Close Price 0,27 €
Average target price 0,34 €
Spread / Average Target 23,5%
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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
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