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Tag: telecom
Portugal Telecom SGPS shareholders propose new CEO
2015-05-08 15:23:01| Telecom - Topix.net
The leading shareholders of holding company Portugal Telecom SGPS have proposed replacing chief executive Joao Franco Mello with Luis Palha da Silva, the former head of retailer Jeronimo Martins and board vice-president at oil company Galp. Portugal Telecom said in a statement the proposal was backed by Grupo Visabeira, Novo Banco, Oi and RS Holding, who together have more than 35 percent of the company, and it will be voted at a general meeting on May 29. PT SGPS is a holding company that owns a 27.5 percent stake in Brazil's Oi, which in turn holds 10 percent of PT SGPS following last year's ill-fated merger.
Tags: portugal
propose
ceo
telecom
Telecom Italia buoyed by broadband offers
2015-05-08 11:08:34| Telecom - Topix.net
Telecom Italia SpA reported a slower decline in revenue in the first quarter as sales in Italy showed signs of recovery, supported by lucrative fast broadband services. Sales fell 2.6 percent to 5.05 billion euros , compared with a decline of 12 percent a year earlier, Italy's largest phone company said in a statement on Thursday.
Tags: offers
italia
telecom
broadband
Telecom Italia revenues dip 2.6%, domestic business improves
2015-05-08 08:21:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported a 2.6 percent year-on-year fall in first-quarter revenues to EUR 5.05 billion, hurt by the ongoing economic downturn in Brazil, but a significant improvement on the 11.9 percent decline posted a year earlier. EBITDA dropped 7.7 percent to EUR 2.03 billion, and EBITDA margin dipped to 40.2 from 42.4 percent a year ago. Net profit declined to EUR 80 million from EUR 222 million in the year-earlier period, mainly due to the negative effects of the recent bond buyback programme, without which the company said its profit would have been over EUR 300 million. Adjusted net debt fell slightly to EUR 27.4 billion from the EUR 27.53 billion reported a year earlier. Telecom Italia welcomed the results as confirmation that the sales decline of recent years had been contained, above all in its domestic business that makes up around 70 percent of revenues. CEO Marco Patuano is betting on lucrative superfast fixed and mobile broadband services to bring Telecom Italia back to growth by 2017. The operator is about to sell a 40 percent stake in its tower business, Inwit, and has teamed up with Sky Italia on a convergent IPTV offering, to be called TIM Sky. Investments during the quarter came to EUR 964 million, up EUR 280 million on Q1 2014, helping the company to expand its fibre-optic network to over 140 cities (32 percent of the population) and bring 4G services to over 80 percent of the population.
Tags: business
italia
domestic
telecom
Hutchison to Sell U.K. Telecom Stake for $4.3 Billion
2015-05-08 07:00:14| Telecom - Topix.net
Investors will be buying stakes in Hutchison 3G UK Holdings Ltd., which will be the combined 3 UK and O2 UK businesses, Hutchison Whampoa said. Photographer: Aidan Crawley/Bloomberg Li Ka-shing's Hutchison Whampoa Ltd. said investors have agreed to pay an initial 2.8 billion pounds for stakes in its U.K. telecommunication business after the billionaire's company agreed to buy Telefonica SA's O2 unit.
Tags: sell
billion
telecom
stake
Telecom Italia talks up domestic stability on 4G, fibre investments
2015-05-08 02:00:00| Total Telecom industry news
Italian incumbent reports 2.6% decline in first quarter revenue; net debt edges down on-year.
Tags: italia
domestic
investments
stability
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