Advertisement
Advertisement
U.S. Markets closed
Advertisement
Advertisement
Advertisement
Advertisement

Telecom Italia S.p.A. (TITR.MI)

Milan - Milan Delayed Price. Currency in EUR
Add to watchlist
0.1850+0.0069 (+3.87%)
At close: 05:38PM CEST
Advertisement

Yahoo Finance will soon be upgrading our Conversations message board platform to provide a better experience for our users. Only comments published since April 21, 2021 will be visible on Yahoo Finance after the upgrade. If you wish to download and save any of your older comments, please submit a request via the Privacy Dashboard by no later than Sept. 30.

Sign in to post a message.
  • F
    Fatima
    With the heart of gratitude,am hereby appreciating the good work of Mr Henry Anderson.he has been my best account manager ever,since i came into investing,with Henry Anderson fxtrade,I have never experienced any lost or scam,all thanks to him with his good work.you can reach him on Instagram,Henry_Anderson_fxtrade.
  • L
    Luke
    I'm a newbie in crybto and holding some cryptocurrencies in my wallet but am scared i'm to lose my funds due to the recent crash😢
  • J
    Jennifer
    hi how can I get money please
  • M
    Mildred
    Hello I'm new to forex and crypto currency trade and I've been making huge looses but i recently see a lot of comments about Mrs Thereas and how people are earning from her platform i decided to give it a try with a thousand dollar and it pays me without any trading failure thanks ma'am i wish to continue trading with your platform🙏 Mrs Thereas B Lynch 💢 👉Face 📚Book or WHAT🌏APP 👉+447577531036
  • E
    Elizabeth
    i Am a living beneficiary of Nancy Moore Garcia daily signals, i must say the outcome has been so profitable.
    Bullish
  • M
    Michael
    I’ve had no problems at all in trading. I get signals Henry Artem trading strategy and now have a huge portfolio to work with. I started with $40k investment and made $320k on my investment. You can contact him via 🆃🅴🅻🅴🅶🆁🅼 : (HENRYARTEM) or Wh**atsApp +44 (749) 449‑3602
  • B
    Barnacle Barney
    Who knew there was anything left to lose here ? Continual decline since 2009 ?
  • B
    Barnacle Barney
    This stock has been going down for 13 years, while the debt rises to staggering levels ?
  • k
    kalle
    15billion stocks need to reduce to 2 billion or one billion shares, 30billion in debt how are they still in business? If not in bankr. If they escape this then they should buyback shares at this low price asap
  • A
    Anonymous
    Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payout,with the right skill and proper understanding of how the market works.
    Bullish
  • A
    Anonymous
    Investors seek growth in crypto to capitalize on above _average growth in financial that help these securities grab the market's attention and produce exceptional results. For this reason managers are very necessary....
    Bullish
  • a
    alexx
    Telecom Italia is a great buy at these levels of approx. EUR 0.60
  • P
    PMA
    Fiber Corp/Open Fiber Multiple * EBITDA AL - Net Debt AL == 8.5 x 5.5 - 17.4 ~= 1.45/share. So, if KKR pays $1/share, Vivendi will exit without losses and KKR will still get discount of 45 cents/share.
    Fitch mentions TDC acquisition in 2018 at 8 x EBITDA. Fiber Corp deal was made at 8.5x. So, I would say 7.5-8.5 is the fair value range for the deal.
  • R
    RouletteWheel
    When Private Equity interested it must really be cheap, must be good news for a lot of other lowly priced telecom stock
    Bullish
  • A
    Antti
    I see this company as a deep value play at the current price and bought a few thousand shares. Do you agree?
    Bullish
  • P
    PMA
    Fitch:
    TI is the subject of a ‘non-binding and indicative’ approach by KKR aimed at taking the company private. The offer values TI at EUR33 billion and represents an enterprise value (EV)/EBITDA multiple of 5.0x. The offer is conditional on due diligence and clearance by the Italian government. If it proceeded, we would review TI’s rating, with probable negative implications.

    TI could separate fixed network assets and achieve market consolidation by merging with network infrastructure competitor Open Fiber, which, along with some scope to cut costs through operating restructuring, full-fibre deployment and all-IP networks, are likely to be key to creating value.

    TDC’s 2018 acquisition by DKT, for an EV/EBITDA multiple of 8x, eventually led to a rating downgrade to ’B+’ from ‘BBB-’. The multi-notch downgrade reflected a significant debt component in the funding structure with FFO net leverage increasing to 6.7x from about 3.6x. Some new debt was secured and ranked above residual unsecured debt, while other new instruments were structurally subordinated. DKT’s strategy is to manage the company’s telecoms network infrastructure in a separate company from its retail arm reflecting their differing operating requirements and risk-return profiles.

    Telecoms infrastructure assets have a greater capacity to support higher leverage than their fully vertically integrated peers, reflecting greater stability and visibility of their cashflow due to their captive customer base and limited alternative infrastructures. For example, NBN in Australia could have FFO net leverage of up to 6.0x for a standalone rating of ‘BBB-‘. CETIN, an infrastructure provider operating in central and Eastern Europe, has a negative FFO net leverage sensitivity of around 4.5x for a ‘BBB-’ rating (see What Investors Want to Know: European Telecoms Infrastructure Sales). This compares to a negative rating sensitivity of 3.8x for vertically integrated incumbent telecoms operators with low geographic diversification.

    Potential investors could play a significant role in separating TI’s retail and mobile operations from its local access infrastructure and merging with Open Fiber. This would create an infrastructure company with a strong operating profile that has a similar leverage capacity to NBN. However, the regulatory approach in Italy would also need to evolve to ensure that competitiveness and innovation are maintained, while achieving economies of scale for a single fibre-based network infrastructure. The strategic nature of telecom networks involves political considerations and national controls.

    We believe that TI has to accelerate its cost-reduction programme in the short to medium term to mitigate competitive pressures in the mobile and fixed wholesale segments. The company’s recent revision of 2021 guidance is broadly in line with Fitch’s base-case forecasts and we do not expect significant changes to it. TI still has limited headroom at its current ‘BB+’ rating with FFO net leverage broadly stable at 4.1x.

    Fitch believes TI has a strong asset base with a sustainable leading position in the Italian telecom market. We think TI has absorbed over 50% of the financial impact caused by competition with Iliad Italy and Open Fiber. Italy’s telecom market dynamics are not new and we expect the company’s operating profile to remain strong over the next three to four years. However, it may need a more ambitious operational restructuring to sustain its rating if competition puts further pressure on its financial performance.
  • K
    KingStocks
    Very competent CEO Gubitosi will take the stock to new all time high, and will definitely resolve the problem of debt in this company. Enter now and you will be happy in the future not so far.
    Bullish
  • M
    Matt
    Will it ever go up?
  • Y
    Yahoo Finance Insights
    TI-A is down 6.75% to 5.25
  • P
    PMA
    Tim Brazil - Virtually 0 net debt, brl 8.5 Billion ebitda, exp. growth, BRL at lows. KKR will make a ton of profits from TIM SA. It would almost pay all the cash they're paying for all equity in Group TIM.
Advertisement
Advertisement