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Telecom Italia service revenues down 5.7% in Q3 on wholesale losses and competition, cuts debt

2019-11-08 09:28:00| Telecompaper Headlines

(Telecompaper) Telecom Italia (TIM) reported a 5.7 percent year-on-year decline in third quarter service revenues to EUR 4.06 billion compared to falls of 0.4 percent, 2.5 percent and 2.9 percent in the previous three quarters, attributed mainly to a significant reduction in international wholesale contracts, partly offset by a 3.0 percent year on year rise in revenues at its TIM Brasil unit. The group's EBITDA after leases was down 4.3 percent to EUR 1.9 billion in the three months ending September compared with the same period of last year, though the margin inched up 0.7 percentage points to 44.6 percent thanks to cost containment initiatives.

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Category:Telecommunications

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(Telecompaper) Vivacom confirmed a deal to be acquired by United Group, in a transaction expected to close in Q2 2020, subject to antitrust approvals. The acquisition will be financed through a combination of new debt and cash on hand at United Group. Further financial details were not disclosed.

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T-Mobile offers free broadband to 10 million Americans in a bid to finalise Sprint merger

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Category: Telecommunications

 

 

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