|Day's Range||0.850 - 0.870|
|52 Week Range||0.667 - 0.916|
|PE Ratio (TTM)||11.55|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
PARIS/MILAN/SAO PAULO (Reuters) - Telecom Italia's fund investors are counting on a former Israeli army captain and telecoms dealmaker to complete the company's overhaul -- with a burst of deals. The company this week let go chief executive Flavio Cattaneo after just 16 months of a four-year contract, even though many regard him as the author of a remarkable turnaround at Telecom Italia. The European telecom has nevertheless managed to keep the faith of investors thanks to the expected arrival of Amos Genish.
The righthand man of media mogul Silvio Berlusconi visited the headquarters of Telecom Italia on Wednesday and met the company's deputy chairman Giuseppe Recchi, a source said. Telecom's top shareholder is France's Vivendi, which has also built up an almost 30 percent stake in Berlusconi's Mediaset, in a move that has infuriated the former Italian prime minister. A source told Reuters Letta had seen Recchi, whom he has known for some time.
MILAN/PARIS (Reuters) - France's Vivendi has tightened its grip on Telecom Italia by removing its CEO Flavio Cattaneo and paving the way for a joint venture between its own pay-TV Canal+ and the Italian group, in a boost to the French firm's ambitions to become a southern European media powerhouse. Telecom Italia (TIM) said late on Monday after a board meeting that Cattaneo would be stepping aside as chief executive on July 28 after 16 months in the job, with a severance payment of 25 million euros ($29 million). Vivendi supported Cattaneo's departure, sources familiar with the matter said, after failing to convince the Italian executive to share power with other managers and work on a new strategic plan.