|Bid||0.4976 x 2000000|
|Ask||0.5044 x 2000000|
|Day's Range||0.4930 - 0.4930|
|52 Week Range||0.3840 - 0.5066|
|Beta (3Y Monthly)||1.26|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.03 (5.59%)|
|1y Target Est||N/A|
Brazilian telecommunications firm Oi SA is in talks with Spain's Telefonica SA and Italy's Telecom Italia SpA to sell its mobile network to avoid insolvency, five people with knowledge of the matter said. Oi has been struggling to turn around its business since filing for bankruptcy protection in June 2016 to restructure approximately 65 billion reais of debt. Brazil's largest fixed-line carrier expects to raise more than 10 billion reais ($2.4 billion) by selling its mobile operations, according to two of the sources, who spoke on condition of anonymity because the talks are confidential.
(Bloomberg) -- Telecom Italia SpA Chairman Fulvio Conti is planning to resign in a move that signals the battle for influence between two of the phone carrier’s largest investors may be nearing an end, according to people familiar with the matter.Fulvio Conti, 71, was appointed as chairman last year in a list proposed by Elliott Management Corp. as part of a board reshuffle won by the U.S. activist investor against the French media-conglomerate Vivendi SA. Conti’s resignation hasn’t been finalized and is expected to be discussed at a Sept. 26 board meeting, the people said.Telecom Italia representatives weren’t immediately available for comment.Telecom Italia shareholders Vivendi and Elliott have been waging a battle for influence over the heavily indebted phone company since the fund run by Paul Singer bought a stake in Italy’s biggest phone company in 2018.In March, Vivendi abandoned an attempt to wrest control of Telecom Italia from allies of Elliott, signaling an end to a boardroom battle that delayed an overhaul of the phone company.Amos Genish, a Vivendi ally, was ousted as CEO last year as part of the clash over company strategy. He was replaced by Luigi Gubitosi, who’s trimming costs to help restructure the crisis-ridden company.The two sides have disagreed over how to restore the fortunes of the Italian carrier, which faces new competitive threats and is laboring under heavy debts.La Repubblica reported earlier that Conti could step down at the company’s post-summer board meeting and that a replacement hasn’t been identified yet.To contact the reporters on this story: Daniele Lepido in Milan at firstname.lastname@example.org;Angelina Rascouet in Paris at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, Dan Liefgreen, Jennifer RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
MILAN/ROME (Reuters) - Italy's biggest phone group Telecom Italia and rival Vodafone agreed on Friday to merge their mobile tower infrastructure and to jointly roll out 5G in Italy. The deal highlights the increasing appetite for tie-ups among phone companies seeking to cut debt and share heavy investment. Under the agreement, Vodafone will transfer its Italian mobile masts to INWIT, which is currently 60 percent owned by TIM, boosting its market capitalisation from 5.1 billion euros ($5.7 billion) to as much as 9.0 billion euros ($10 billion), according to a source close to the matter .
Italy's biggest phone group Telecom Italia is set to announce on Friday a deal with rival Vodafone to merge their tower infrastructure and jointly deploy fifth generation mobile technology in Italy, a source close to the matter said. The source said an extraordinary board meeting of Telecom Italia (TIM) had been called for July 26 to approve the deal. The tower infrastructure merger will give TIM and Vodafone equal share-holdings and governance rights in INWIT, the mast group 60 percent owned by Telecom Italia, without either group having to launch a tender offer on INWIT's remaining shares.
A single network entity controlled by Italy's former monopoly phone group Telecom Italia (TIM) would be a "backward step", the country's communication watchdog chief Angelo Cardani said on Friday. Last month TIM signed a non-disclosure agreement with state lender CDP and utility Enel to kick off talks on ways of integrating its fiber optic network with that of smaller rival Open Fiber, including a possible merger. TIM's Chief Executive Luigi Gubitosi said earlier this year merging Open Fiber with TIM’s networks would be positive for both companies, adding TIM would maintain some kind of control of the new network entity.
Italy's biggest phone company, Telecom Italia (TIM), plans to extend 5G services to six more Italian cities as well as dozens of tourist spots and business hubs by the end of the year. TIM has already begun 5G services in Rome, Turin and Naples, is testing them in southern cities of Matera and Bari and plans to move next in Milan, Bologna, Verona and Florence by year-end. The group plans to cover 120 Italian cities within two years, or 22% of the population, it said in a statement.
A group of banks is set to lend Telecom Italia unit INWIT up to 2.5 billion euros ($2.8 billion) to help it merge its towers with those of Vodafone, two sources said. Telecom Italia (TIM), which controls 60% of INWIT, agreed with Vodafone in February to study the idea of combining their 22,000 telecom masts in Italy in a single unit. UniCredit, Intesa Sanpaolo, Mediobanca, Goldman Sachs and BofA-Merrill Lynch are among the banks finalising the bridge-to-bond loan but other lenders could join the deal, the sources said.
A group of banks is set to lend Telecom Italia unit INWIT up to 2.5 billion euros ($2.8 billion) to help it merge its towers with those of Vodafone, two sources said. Telecom Italia (TIM), which controls 60% of INWIT, agreed with Vodafone in February to study the idea of combining their 22,000 telecom masts in Italy in a single unit. UniCredit, Intesa Sanpaolo, Mediobanca, Goldman Sachs and BofA-Merrill Lynch are among the banks finalizing the bridge-to-bond loan but other lenders could join the deal, the sources said.
Telecom Italia (TIM) is considering an option to merge its optic-fiber broadband unit, Flash Fiber, with rival Open Fiber as it looks for ways to create a national broadband network, two sources familiar with the matter said. The option is one of two to be discussed at a TIM board meeting on Thursday, with the other being a takeover of Open Fiber and then a merger of the two networks, the sources said. TIM is under pressure from its state shareholder, Cassa Depositi e Prestiti (CDP), to speed up development of a national network, eliminating duplication of infrastructure with Open Fiber and addressing Italy's weak Internet usage.
Telecom Italia has signed a non-disclosure agreement with state lender CDP and utility Enel to kick off talks on ways of integrating its fiber optic network with that of smaller rival Open Fiber, including a possible merger. "The objective of the discussions is to verify the feasibility of such operation... based on the will of the parties and on the legislative and regulatory frameworks," TIM said in a statement. The Italian government is pushing to create a single ultrafast broadband operator by merging TIM's network with Open Fiber to avoid duplicating costly investments.
Telecom Italia (TIM) should seek a way to keep control of its fixed-line network if it is merged with smaller infrastructure provider Open Fiber, the former phone monopoly's chief executive said on Tuesday. Italy has been pushing for the creation of a single ultrafast broadband operator through a merger of TIM's network with Open Fiber to avoid duplicating investments. The future of TIM's network has been a bone of contention among the group's biggest investors.
MILAN (Reuters) - Italy's biggest phone group Telecom Italia (TIM) reported a drop in first-quarter core earnings on Monday as stiffer competition in its main market hit domestic revenues TIM said its ...
A deal to merge Vodafone's tower infrastructure in Italy into INWIT, the mast group 60 percent owned by Telecom Italia (TIM), will be signed by the summer, INWIT's Chief Executive Giovanni Ferigo said on Wednesday. The deal is part of a three-year strategy plan ironed out earlier this year by TIM CEO Luigi Gubitosi aimed at reviving Italy’s biggest phone group which is saddled with more than 25 billion euros ($28.34 billion) of debt.
Telecom Italia would be happy to share the cost of securing 5G frequencies with other operators such as France's Iliad in addition to Vodafone, the chief executive of the Italian telecoms incumbent said. 5G frequencies were very expensive ... so it's important to share costs," CEO Luigi Gubitosi said.
FLORENCE, Italy (Reuters) - Merging broadband infrastructure group Open Fiber with the networks of Telecom Italia (TIM) would be positive, TIM's chief executive said on Wednesday. TIM and Open Fiber have ...
The sale of Persidera, 70 percent owned by the Italian phone group, is part of a plan ironed out earlier this year by Telecom Italia's (TIM) CEO Luigi Gubitosi aimed at reviving the group. TIM's board will probably examine F2i's offer at a meeting scheduled on Monday, one of the sources added.
MILAN (Reuters) - Italy's antitrust regulator said on Monday it had extended a probe into alleged market abuse by Telecom Italia over fiber optic rollout and wholesale pricing to Sept. 30. The competition ...
MILAN (Reuters) - Italian phone group Telecom Italia (TIM) has asked watchdog AGCOM to postpone its review of a plan to spin off its fixed-line network because the scheme will be modified, a source close ...