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    TIT   IT0003497168

TELECOM ITALIA S.P.A.

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Vivendi is open to discuss with Rome over state control on TIM's network

12/05/2021 | 04:42am EST
The Tim logo is seen at its headquarters

MILAN (Reuters) - Telecom Italia's (TIM) top shareholder Vivendi is open to discussing the possibility that the Italian government wins control of TIM's fixed-line network, a spokesperson for the French company said on Sunday.

The statement marks a shift in the stance of the French media group as TIM's investors get ready to evaluate a 10.8 billion euro ($12.2 billion) takeover plan presented by U.S. fund KKR for TIM.

Until now the French group has dragged its feet on the possibility that Rome gains control over TIM's fixed network.

A spokesperson for the French media group told Reuters that Vivendi was interested in any solution that "promoted the efficiency and modernity of the network, while preserving the value of its investment".

"In this perspective, the hypothesis of a state control of the network, if it could lead to an institutionally guided strategic project, will certainly be evaluated with openness," the spokesperson added.

TIM's fixed line business provides Italy's main telecoms infrastructure and plays a major role in broadband rollout efforts on which Rome plans to spend billions of euros of European Union funds to improve coverage.

State investor CDP has taken a 10% stake in TIM to oversee the network and is expected to play a key role in any plans to carve out the grid.

($1 = 0.8839 euros)

(Reporting by Elvira Pollina and Francesca Landini; writing by Francesca Landini; editing by David Evans)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
TELECOM ITALIA S.P.A. -1.13% 0.4193 Delayed Quote.-2.33%
VIVENDI SE -1.74% 11.545 Real-time Quote.-2.90%
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Analyst Recommendations on TELECOM ITALIA S.P.A.
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Financials
Sales 2021 15 585 M 17 673 M 17 673 M
Net income 2021 302 M 342 M 342 M
Net Debt 2021 20 617 M 23 379 M 23 379 M
P/E ratio 2021 35,0x
Yield 2021 2,45%
Capitalization 8 828 M 10 013 M 10 011 M
EV / Sales 2021 1,89x
EV / Sales 2022 1,92x
Nbr of Employees 52 177
Free-Float 75,6%
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Telecom Italia S.p.A. Technical Analysis Chart | TIT | IT0003497168 | MarketScreener
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 0,42 €
Average target price 0,44 €
Spread / Average Target 5,08%
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Managers and Directors
Pietro Labriola General Manager
Giovanni Ronca Chief Financial Officer
Salvatore Rossi Chairman
Michele Gamberini Chief Technology & Information Officer
Stefano Siragusa Chief Revenue, Information & Media Office
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