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Telecom Italia ready to consider Oi merger - CEO
2014-11-10 08:51:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has no option but to consider a potential merger with Brazilian operator Grupo Oi as it seeks to strengthen its local unit TIM Brasil, according to the Italian company's CEO Marco Patuano. "I think it's mandatory to explore the possibility of such a big strategic opportunity," Patuano told reporters when asked about Telecom Italia's interest in merging with Oi, subsequently adding that "we're not desperate and we don't want to make a deal at any cost." Telecom Italia's minority investors association Asati has urged the company not to sell its controlling stake in TIM Brasil, but to explore the possibility of a merger with Oi. In a letter to the Telecom Italia board, Asati said an agreement with Oi would represent a great opportunity and could be reached with a "modest" capital hike. Patuano has repeatedly emphasised the value and strategic importance of TIM Brasil to Telecom Italia, a stance backed up by leading shareholders such as Marco Fossati. However, Brazilian operator Oi recently confirmed that it has hired BTG Pactual to consider a takeover bid for TIM Brasil, with Telecom Italia's unit looking to counter that initiative by hiring Banco Bradesco to analyse "strategic alternatives".
Tags: ready
italia
ceo
telecom
Telecom Italia slows sales fall to 4.5% in Q3 on fibre gains
2014-11-07 08:41:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported a 4.5 percent year-on-year fall in third-quarter revenues to EUR 5.4 billion, hurt by a slowdown at its Brazil unit and a recession-hit domestic market. However, the operator welcomed the result as a reversal of its recent revenue decline compared to falls of 11.9 percent and 11.2 percent in the previous two quarters. "There are concrete signs of recovery in the domestic market," said Telecom Italia CEO Patuano in a statement, adding that "we have overcome the price war." EBITDA declined 8 percent to EUR 2.24 billion, and EBITDA margin fell to 41.4 percent from 41.4 percent a year ago. Net profit for the first nine months of the year came in at EUR 985 million compared to a EUR 902 million loss in the same period of 2013, reflecting the impairment loss on goodwill. Capex for the quarter fell to EUR 933 million from EUR 1.4 billion in the year-earlier period, which the company attributed to the abandonment of certain platforms and the simplification of industrial processes, adding that the savings were partly redirected to developing its 4G and fibre networks, which saw a EUR 102 million year-on-year increase in investment. "We're keeping our promises on investments in ultra fast broadband infrastructures and have already covered 100 cities with optical fibre and over 2,500 municipalities with LTE," said the company's chairman Giuseppe Recchi.
Tags: sales
fall
italia
telecom
Telecom Italia sees domestic recovery despite falling revenue, profit
2014-11-07 01:00:00| Total Telecom industry news
CEO Marco Patuano says Italian incumbent has 'overcome' the price war.
Tags: italia
profit
recovery
domestic
Telecom Italia switches on LTE-A network
2014-11-06 01:00:00| Total Telecom industry news
180-Mbps mobile service available in 60 cities; operator plans to upgrade to 225 Mbps in 2015.
Tags: network
italia
telecom
switches
Telecom Italia launches LTE-A service in 60 Italian cities
2014-11-05 16:20:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has become the first operator to commercially launch LTE-A services in Italy, offering connections up to 180 Mbps via the network of its mobile unit TIM. The service, dubbed TIM 4G+, is available now in 60 Italian cities, including Rome, Milan, Turin, Naples and Florence, with more to come "in the coming weeks". The operator activated its LTE-A service after conducting a trial run of the technology in Turin back in July. The download speed of 180 Mbps, around twice the highest theoretical speed currently available on Italian mobile networks, was possible thanks to carrier aggregation, in this case combining two of the spectrum bands available for LTE (800, 1800 and 2600 MHz). Telecom Italia said the speed of TIM's LTE-A network would be increased to a peak of 225 Mbps in the first few months of 2015. Consumer and business customers that have already subscribed to any of TIM's 4G offers will be allowed to access the 4G+ service free of charge until 30 April 2015. In addition, a number of LTE-A compatible smartphones and tablets will be added to TIM's portfolio before the end of the year.
Tags: service
italia
cities
italian
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