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    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
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Telecom Italia S p A : considering options for cloud, undersea cable businesses

07/28/2021 | 12:06pm EDT
FILE PHOTO: Telecom Italia's logo for the TIM brand is seen on building roof downtown Milan

MILAN (Reuters) - Telecom Italia may seek investors for its cloud and wholesale undersea cable businesses as it looks to extract value from its assets, Chief Executive Luigi Gubitosi said on Wednesday.

Like other European rivals, Italy's biggest phone group has been facing growth issues as the pandemic compounds the long-standing challenge of tougher competition on its home turf.

Last week, it pushed back a goal to stabilise core profits this year, citing higher costs linked to the start up of the DAZN deal, while confirming the target of stabilising domestic revenue.

Speaking to analysts after second quarter results, Gubitosi said TIM would press ahead with plans to extract full value from its network assets.

TIM, whose main investors are French media group Vivendi and Italian state lender CDP, sold a stake in its last-mile grid to U.S. fund KKR last year to help cut its debt pile.

Gubitosi said TIM would assess options for both its cloud firm Noovle, which has a strategic partnership with Google, and its international wholesale unit Sparkle, including potential alliances and new investors.

"At the end of 2021, I think both companies will be in a position to assess what the next step for growth is," he said, adding the group remained keen to talk with CDP over a potential tie-up with state-backed rival fiber optic operator Open Fiber.

Gubitosi welcomed a decision by Italy's competition watchdog to accept amendments to a deal between TIM and DAZN that would avert precautionary measures being imposed on their technical and distribution partnership.

The proposed changes and measures, including a pledge to make TIM's pay-TV offer with the sports streaming service available to clients of other telecoms operators from Aug. 1, would prevent irreparable damage to competition ahead of the start of Italy's top-flight Serie A soccer season.

TIM shares were up 0.3% by 1500 GMT, against a 0.6% rise of Italy's blue chip index.

(Reporting by Elvira Pollina; Editing by Jason Neely, Kim Coghill and Mike Harrison)

By Elvira Pollina


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
TELECOM ITALIA S.P.A. 1.41% 0.3607 Delayed Quote.-5.75%
VIVENDI SE -0.44% 31.75 Real-time Quote.20.89%
All news about TELECOM ITALIA S.P.A.
09/16TIM : Quang Ngo Dinh appointed CEO of Olivetti
PU
09/15MEDIASET S P A : Italian watchdog opens inquiry into DAZN viewership data for li..
RE
09/14TIM : first in Italy to test 25 gbps ftth fibre in Turin
PU
09/14TIM : two new Open Ran solutions launched on mobile network
PU
09/14France's Bollore poised to own $7 bln worth of Universal after listing
RE
09/10TIM : agreement with FIT and LIS holding for tobacconists...
PU
09/08Italy Set to Tap Telecom Italia, Leonardo for Cloud Hub Initiative
MT
09/07Italy to award tender for national cloud hub by end-2022
RE
09/06TELECOM ITALIA S P A : Leonardo to Bid for Italy's $1.1 Billion Cloud Hub Projec..
MT
09/04TELECOM ITALIA S P A : CEO does not consider single network plan shelved
RE
More news
Analyst Recommendations on TELECOM ITALIA S.P.A.
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Financials
Sales 2021 15 795 M 18 523 M 18 523 M
Net income 2021 593 M 695 M 695 M
Net Debt 2021 21 266 M 24 939 M 24 939 M
P/E ratio 2021 14,5x
Yield 2021 2,94%
Capitalization 7 739 M 9 084 M 9 075 M
EV / Sales 2021 1,84x
EV / Sales 2022 1,84x
Nbr of Employees 52 392
Free-Float 72,3%
Chart TELECOM ITALIA S.P.A.
Duration : Period :
Telecom Italia S.p.A. Technical Analysis Chart | TIT | IT0003497168 | MarketScreener
Technical analysis trends TELECOM ITALIA S.P.A.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 0,36 €
Average target price 0,55 €
Spread / Average Target 55,7%
EPS Revisions
Managers and Directors
Luigi Gubitosi Chief Executive Officer & Executive Director
Giovanni Ronca Chief Financial Officer
Salvatore Rossi Chairman
Michele Gamberini Chief Technology & Information Officer
Herculano Aníbal Alves Chief Technology Officer
Sector and Competitors