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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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Real-time Estimate Quote. Real-time Estimate Tradegate - 10/22 05:27:51 am
0.327 EUR   -1.80%
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Telecom Italia S p A : Vodafone CEO warns Italy single broadband network could be step back - press

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09/09/2020 | 01:48pm EDT
FILE PHOTO: Nick Read, CEO of Vodafone, gestures as he speaks during the Mobile World Congress in Barcelona

The head of Vodafone Group said Italy's plan to create a single fast broadband network in which Telecom Italia would hold a majority stake could be a step backwards since it effectively amounted to renationalisation and re-monopolisation.

In an article in Politico on Wednesday, Nick Read said Rome was looking to recreate the fixed-line monopoly that previous Italian governments and EU institutions had dismantled.

"This would leave would-be fixed broadband providers with only one seller of wholesale access to the combined network - yet again Telecom Italia (TIM)," he said.

Last month TIM and state lender CDP agreed to create a national ultrafast grid operator combining the former phone monopoly's network assets with those of smaller rival Open Fiber.

Such an operator could be majority-owned by TIM but its independence and third-party status would be guaranteed by a shared governance mechanism with CDP, which would emerge as a major shareholder in the venture, open to other players.

Vodafone offers mobile and fixed-line services in Italy, and is one of Open Fiber's biggest commercial clients.

The Italian government sees the single broadband network as a strategic priority to help Italy close a yawning technological gap with other countries and boost its stagnant economy by increasing digitalisation.

Read said it had only been with the creation of Open Fiber a few years ago that Italy had started to modernise its fixed networks, providing more comparable high-speed services to those of other EU member countries.

"Reverting to a failed monopoly model cannot possibly be good for either competition or investment. It also contravenes four decades of anti-monopolistic policy and EU law," he said.

TIM and CDP declined to comment.

(Reporting by Stephen Jewkes; Editing by Mark Potter)


Stocks mentioned in the article
ChangeLast1st jan.
TELECOM ITALIA S.P.A. -1.56% 0.3278 Delayed Quote.-40.15%
VODAFONE GROUP PLC 0.88% 107.54 Delayed Quote.-27.39%
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Financials
Sales 2020 16 140 M 19 113 M 19 113 M
Net income 2020 1 010 M 1 196 M 1 196 M
Net Debt 2020 22 744 M 26 934 M 26 934 M
P/E ratio 2020 6,99x
Yield 2020 2,85%
Capitalization 7 093 M 8 418 M 8 399 M
EV / Sales 2020 1,85x
EV / Sales 2021 1,78x
Nbr of Employees 55 076
Free-Float 74,2%
Chart TELECOM ITALIA S.P.A.
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Telecom Italia S.p.A. Technical Analysis Chart | TIT | IT0003497168 | MarketScreener
Technical analysis trends TELECOM ITALIA S.P.A.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 0,51 €
Last Close Price 0,33 €
Spread / Highest target 134%
Spread / Average Target 52,7%
Spread / Lowest Target -30,9%
EPS Revisions
Managers
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
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