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Telecom Italia needs to review Brazil strategy - CEO
2015-09-22 09:01:00| Telecompaper Headlines
(Telecompaper) Telecom Italia will be reviewing its strategy in Brazil in a forthcoming board meeting due to the worsening economic situation in the country, according to CEO Marco Patuano. "For our Brazil unit, we are focused at the moment on organic investments but we need to review the strategic plan since the situation in Brazil worsened a lot," said Patuano at a recent event, according to Bloomberg. Brazil currently generates nearly 30 percent of the Italian operator's revenue through its ownership of around two-thirds of TIM Brasil, the South American country's number two mobile operator, valued at around USD 5.1 billion. Telecom Italia also plans to use the meeting to review its strategy for mobile tower unit Inwit, for which it is seeing "strong interest", according to Patuano.
Tags: review
strategy
italia
brazil
Category:Telecommunications