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Telecom Italia S.p.A. (TIN.MX)

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  • Reuters

    TIM investor Merlyn proposes plan to cut debt, have $7 billion in cash

    Telecom Italia (TIM) would be left with 6.6 billion euros ($7 billion) in cash after repaying all of its debts, if it sold its Brazilian unit and its domestic consumer business, activist investor Merlyn Partners calculated. In a document outlining its vision for TIM, Merlyn - which holds 0.5% of the group - drew up six scenarios ahead of an April 23 shareholder vote to name new top executives at TIM. Four of the six scenarios are built around the proposed sale of TIM's domestic access network to KKR, an up to 22 billion euro deal promoted by TIM CEO Pietro Labriola, who is seeking reappointment this month.

  • Reuters

    TIM sees annual growth of 8% for core profit under new leaner structure

    Telecom Italia (TIM) expects its core earnings to grow at 8% on a compound annual basis over the next three years under a new leaner structure after a planned sale of its domestic fixed-line network, it said on Wednesday. Worth up to 22 billion euros ($24 billion) and backed by the Italian government, the network deal is designed to slash the company's debt pile and cut costs. "The sale of the fixed network will allow TIM to move into the market with fewer financial and regulatory constraints," TIM said in a statement after a board meeting approved a new three- year business plan set out by Chief Executive Pietro Labriola.

  • Reuters

    Exclusive-TIM rivals flag competition risks over network spin-off in letter to Rome govt

    Telecom Italia's (TIM) competitors have written to the Italian government to voice concerns about the risk that a planned spin-off of the former phone monopoly's network assets reinforces its dominant position in the fixed broadband market, a document showed. In a letter dated Feb. 14 of which Reuters saw a copy, Vodafone, Fastweb, Iliad, Wind 3 and Comcast's Sky Italia drew attention to the terms of an agreement that regulates the relationship between TIM's remaining services business and the newly-created network company. The letter said the two companies could retain a "strong vertical mutual dependence" which could hurt other players that, like TIM's services arm, also need to use the network to reach their final customers.