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Telecom Italia likely to sell Brazil towers to American Tower-sources
2014-11-21 12:33:13| Telecom - Topix.net
Telecom Italia will likely sell the mobile phone towers of its Brazilian unit to American Tower Corp for almost the full targeted amount of 900 million euros , two sources familiar with the situation told Reuters. According to one of the sources, a deal has already been worked out and could be announced at a Telecom Italia board meeting on Friday.
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Telecom Italia submits offer for Metroweb stake report
2014-11-19 15:42:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has submitted an expression of interest for a controlling stake in Milan-based broadband provider Metroweb, according to unnamed sources cited by Italian business dailies Il Sole 24 Ore and Milano Finanza. The offer was sent to Italian infrastructure fund F2i, which has a 54 percent stake in Metroweb's holding company Metroweb Italia. One of the sources indicated that Telecom Italia had not revealed how much it would be prepared to pay for the stake but that Vodafone had also expressed interest and may take part in a bidding war. Telecom Italia has yet to comment on the reports but Franco Bassanini, chairman of state-backed holding company Cassa Depositi e Prestiti (CDP), said any auction wouldn't be a one-horse race. "Make no mistake: there will definitely be a competition bids will have to be submitted," he said, according to business website Key4Biz. CDP has a 46.2 percent stake in Metroweb Italia via the FSI fund, while broadband operator Fastweb owns 10.6 percent of Fastweb. Last month Telecom Italia confirmed that CEO Marco Patuano had been given a mandate to make an offer for Metroweb, which could become its fibre optic investment company.
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Telecom Italia eyes fibre firm Metroweb
2014-11-19 01:00:00| Total Telecom industry news
Italian incumbent considers boosting its domestic fibre assets through M&A.
Tags: eyes
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italia
telecom
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
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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
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