|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's range||0.2075 - 0.2077|
|52-week range||0.2075 - 0.2077|
|Beta (5Y monthly)||1.07|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Telecom Italia (TIM) has agreed to restructure its partnership with DAZN, giving up the exclusive right to distribute the video streaming app in Italy in return for a lower fee, two sources close to the matter said on Wednesday. Italy's biggest phone group last year entered into a distribution partnership with DAZN, which had secured domestic broadcasting rights for Italy's top flight Serie A soccer in a 2.5 billion euro three-year deal. Terms of the new contract between TIM and DAZN are set to be discussed at a Telecom Italia board meeting on Wednesday together with second-quarter results, the sources said, cautioning any deal need to receive the backing of the board.
MILAN (Reuters) -The chief executive of INWIT is set to leave his job as part of a full board reshuffle following the sale of most of Telecom Italia's stake in Italy's top telecoms tower firm, two sources familiar with the matter said. Earlier this year Telecom Italia (TIM) agreed to sell a 12.4% indirect stake in Milan-listed INWIT to French investment firm Ardian for 1.3 billion euros ($1.33 billion), maintaining a residual indirect 3% holding. Following the stake sale, an Ardian-led consortium will hold a 27% stake in INWIT, with Vodafone controlling 33% of a venture in charge of more of 22,000 mobile towers across Italy.
The head of Telecom Italia's (TIM) network is expected to leave after the summer, two sources said on Sunday, in a move that may further complicate the phone group's plan to split its fixed grid infrastructure from its services unit to cut debt. Stefano Siragusa, who joined TIM as chief infrastructure officer in 2018, has been at odds over strategy with Chief Executive Pietro Labriola, the company's fifth CEO in six years, the people familiar with the matter said, but added that discussions over his future were still ongoing. TIM said in a statement it had "not made any announcements on the matter" at this time and rejected any "allusions about exits dictated by disagreements with the company's strategic line", adding it was pressing ahead with its strategy.
MILAN (Reuters) -Telecom Italia (TIM) has clinched an agreement with national trade unions to cut 2,100 jobs through an early retirement scheme as part of a wider cost-cutting plan to 2024, a document seen by Reuters showed. Chief Executive Pietro Labriola is seeking about 1 billion euros in savings between now and 2024 while looking to revamp the debt-laden former phone monopoly through a break-up of its business, pressured due to price competition on its home turf. The staff reduction deal comes on top of a previous agreement, sealed in June, entailing 1,200 jobs cuts by November.
ROME (Reuters) -Telecom Italia bonds and shares fell on Friday after ratings agency Moody's downgraded the phone group's credit rating for the second time in four months, pushing it further into junk territory . Moody's on Thursday cut TIM's rating by one notch to 'B1', confirming a negative outlook, citing expectations that the former phone monopoly's leverage would remain high and free cash flow would stay negative over the next two to three years. "The macroeconomic environment has deteriorated since we downgraded [Telecom Italia's] rating to Ba3 in March, reducing the visibility on Telecom Italia's operating performance and its expected deleveraging path", Moody's said.
Telecom Italia's shares fell over 6% on Thursday, hitting an all-time low as the Italian government's collapse is likely to hamper plans for the creation of a single network. Italy's biggest telecoms company could cut more than 9,000 jobs by 2030 and is ready to offload its fixed network business to reshape the debt-laden former telecoms monopoly. "The macroeconomic environment has deteriorated since we downgraded [Telecom Italia's] rating to Ba3 in March, reducing the visibility on Telecom Italia's operating performance and its expected deleveraging path", Moody's said.