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Telecom Italia S.p.A. (TIAIY)

Other OTC - Other OTC Delayed Price. Currency in USD
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5.51-0.08 (-1.52%)
At close: 3:47PM EDT
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Neutralpattern detected
Previous Close5.59
BidN/A x N/A
AskN/A x N/A
Day's Range5.46 - 5.51
52 Week Range3.53 - 6.08
Avg. Volume4,657
Market Cap11.167B
Beta (5Y Monthly)1.43
PE Ratio (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.33 (5.82%)
Ex-Dividend DateJun 21, 2021
1y Target Est17.25
  • Intel, JMA Wireless, Telecom Italia Partner To Build Smart Factory In Italy

    Intel, JMA Wireless, Telecom Italia Partner To Build Smart Factory In Italy

    Intel Corp (NASDAQ: INTC) collaborated with JMA Wireless and Telecom Italia (TIM) to build an end-to-end smart factory in Verona, Italy. The financial terms were not disclosed. Industrial PC and human-machine interfaces manufacturer EXOR collaborated with local service provider TIM to provide the 5G spectrum (sub 6GHz and 26GHz). The intelligent factory will also include an on-premise 5G lab to establish how manufacturers can build private networks and integrate with existing solutions. EXOR wil

  • Telecom Italia and Cisco seal cloud business services partnership

    Telecom Italia and Cisco seal cloud business services partnership

    Telecom Italia's cloud business Noovle and U.S. technology firm Cisco have sealed a partnership to develop cloud services for companies and public administrations, they said in a statement on Tuesday. The move comes as the Italian government prepares to create a national cloud hub for public administration data that will be financed using a portion of the European Union funds earmarked to help its economy recover from the pandemic. Italy wants to use cloud technology developed by big overseas firms, Italy's innovation minister said, while making sure the data is stored locally.

  • Audit Dispute Sends Shares of Muddy Waters Target Into Tailspin

    Audit Dispute Sends Shares of Muddy Waters Target Into Tailspin

    (Bloomberg) -- The disarray at Solutions 30 SE deepened as the European technology-services company, first targeted in 2019 by activist short seller Muddy Waters Capital LLC, said its auditor couldn’t sign off on its 2020 accounts.The company, which counts Telecom Italia SpA among its customers, saw much of its 1.1 billion-euro ($1.4 billion) market value wiped out Monday as the shares began trading again following a two-week halt. Luxembourg-based Solutions 30 published its own unaudited accounts over the weekend after Ernst & Young LLP said it hadn’t been given the information necessary to perform the audit itself.This “raises the prospect of sizable risks” for Solutions 30, “with possible consequences for its finances,” Emmanuel Matot, an equity analyst at Oddo BHF in Lyon, France, wrote in a note, downgrading the stock to underperform from neutral.Muddy Waters’ Carson Block began betting against the stock in May 2019 and unveiled a new report on Monday. A Romanian company that provides back-office support for Solutions 30 last month opened a lawsuit against Muddy Waters accusing it of anonymously alleging that Solutions 30 had multiple links to criminals and ties to money laundering. Other firms that have disclosed short positions against the company include Worldquant and Voleon Capital Management.Ernst & Young has “not been able to obtain sufficient and appropriate evidence supporting the nature, the substance, the value and the compliance with laws and regulations of certain transactions of the group and to determine if these transactions were made with related parties including with members of management,” according to a statement from Solutions 30 on Sunday. Solutions 30 said it “strongly disagrees with the rationale expressed” by the auditor.“It’s a ridiculous situation,” said Eric Hassid, a trader at Aurel BCG in Paris. “It’s not normal that an auditor won’t pronounce itself: either they have doubts on the accounts and don’t certify them, or they don’t and then they need to certify the accounts.”The stock, which had been suspended since May 10, fell as much as 77% and was down 73% at 2.84 euros as of 1:27 p.m. in Paris on Monday. Exchange operator Euronext said it will continue monitoring Solutions 30 shares after trading resumed.French market regulator AMF last week urged Solutions 30 to publish its audited 2020 accounts after failing to do so within the required timeframe, or at least to announce a timetable on when they would be available. The AMF declined to comment on Monday.Short InterestShort interest in Solutions 30 stands at about 13.6% of shares outstanding, according to data compiled by IHS Markit. Comgest and Swedbank Robur Fonder AB, two top investors, bolstered their shareholdings in December, days after Solutions 30 said an anonymous report was being circulated with false allegations against the company.The firm has repeatedly denied any wrongdoing. It said last month an independent auditor had confirmed the allegations were unfounded.The company said Friday it has started a selection process for investment bankers in order to look for reference shareholders. The company also reiterated it could go as far as delisting the shares.Solutions 30 is a provider of services in areas such as telecommunications and energy, handling more than 60,000 service calls a day, according to its website. In France, it installs “Linky” smart meters on behalf of the utility Enedis, which track household energy consumption.(Updates with background on company, top investors.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.