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Tag: italia
Telecom Italia in preliminary talks with Hutch on mobile tie-up
2013-04-05 02:00:00| Total Telecom industry news
Incumbent quiet on details but confirms it will discuss possible merger at board meeting next week.
Tags: mobile
italia
telecom
preliminary
Telecom Italia raises EUR 750 mln with hybrid bond
2013-03-14 09:11:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has raised EUR 750 million in the issue of a subordinated bond, as part of its EUR 3 billion hybrid bond programme announced in February. Telecom Italia said strong demand for the 60-year bond allowed it to price the issue at a lower yield than the initial guidance. The fixed annual rate was set at 7.75 percent until the first call date in 2018. Additional coupon step-ups are planned, of 25 bps in 2023 and 75bps in 2038. Telecom Italia expects the rating agencies to classify the hybrid issue as half equity.
Telecom Italia FY net loss hits EUR 1.6 bln on writedowns
2013-03-08 11:45:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has published its final results for 2012, showing a net loss of EUR 1.6 billion due to goodwill writedowns. The loss included over EUR 4 billion in impairment charges on Olivetti and the buy-out of minority shareholders in TIM, which the operator said were due to the poor market outlook and weak economic climate. In 2011, the operator reported a net loss of EUR 4.8 billion, also impacted by asset writedowns. Excluding the one-time items, net profit fell to EUR 2.4 billion from EUR 2.5 billion in 2011. Telecom Italia emphasized the charges are non-cash, and do not affect its debt reduction targets or medium-term guidance issued with preliminary annual results. It proposed a dividend of EUR 0.02 per ordinary share and EUR 0.031 per savings share, for a total distribution of EUR 454.4 million. Operating free cash flow amounted to EUR 6.47 billion in 2012, a EUR 703 million increase on 2011.
Telecom Italia posts net loss on goodwill writedown
2013-03-08 01:00:00| Total Telecom industry news
Italian telco says writedown was necessary as a result of economic climate.
Telecom Italia sells La7 to Cairo for EUR 1 million
2013-03-05 09:01:00| Telecompaper Headlines
(Telecompaper) Telecom Italia Media has agreed to sell Italian national broadcaster La7 to Cairo Communications for EUR 1 million. Before the transfer of the shareholding, La7 will undergo a capital increase that will leave it with a net positive financial position not higher than EUR 88 million. The recapitalisation will also bring the broadcaster's shareholders equity up to the agreed level of EUR 138 million. As part of the deal, Telecom Italia agreed to waive EUR 100 million in loans owed by Telecom Italia Media to the parent company. Telecom Italia Media will continue to own a 51 percent stake in MTV Italia as well as its DTT broadcast operations.
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