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TELECOM ITALIA S.P.A.

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TIM: 2022-2024 industrial plan guidelines presented to BoD

01/26/2022 | 03:27pm EDT

TIM announced that the Board of Directors ("Board") met today under the chairmanship of Salvatore Rossi. During the meeting TIM CEO Pietro Labriola presented the guidelines of the 2022-2024 industrial plan, which he will submit to the Board on March 2.

The CEO highlighted the need to pursue a transformation process of the offering and services for the consumer segment; and to focus on the enterprise services such as Cloud, IoT, and Cybersecurity, leveraging the Group's expertise and deep technological know-how, as well as the control of operating costs and operating profits. Furthermore, the CEO underscored the need to guarantee a stable, long-lasting growth outlook for the network infrastructure, in the interest of all stakeholders.

In this context, the Board unanimously agreed to give the CEO a mandate to explore strategic options to maximize shareholder value, with specific reference to the Group's infrastructure assets, including solutions that go beyond vertical integration.

The Board acknowledged that the ad-hoc Committee ("the Committee"), appointed to analyse the indicative and non-binding expression of interest sent by KKR & Co. ("the expression of interest"), is continuing to work with the Committee's financial advisers to analyze the expression of interest and compare it with the Group's outlook and strategic alternatives that will be considered under the plan.

Rome, 26 January 2022

Disclaimer

Telecom Italia S.p.A. published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 20:26:08 UTC.


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Financials
Sales 2022 15 614 M 16 728 M 16 728 M
Net income 2022 131 M 140 M 140 M
Net Debt 2022 23 196 M 24 851 M 24 851 M
P/E ratio 2022 -58,8x
Yield 2022 1,76%
Capitalization 5 860 M 6 278 M 6 278 M
EV / Sales 2022 1,86x
EV / Sales 2023 1,81x
Nbr of Employees 51 893
Free-Float 77,0%
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Mean consensus HOLD
Number of Analysts 20
Last Close Price 0,28 €
Average target price 0,34 €
Spread / Average Target 19,9%
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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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