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Tag: telecom italia
Telecom Italia Owner Said to Consider Tononi as Chairman
2014-03-13 22:20:27| Telecom - Topix.net
Borsa Italiana SpA Chairman Massimo Tononi has emerged as a candidate to head Telecom Italia SpA's board, according to people with knowledge of the matter.
Tags: owner
italia
chairman
telecom
Telecom Italia Scraps Dividend to Save Cash as Losses Mount
2014-03-07 14:10:25| Telecom - Topix.net
Telecom Italia SpA, trying to conserve cash as competition in Italy's phone market hurts earnings, scrapped its dividend for common shares for the first time in its history as a public company.
Telecom Italia scraps 2013 dividend, meets debt target
2014-03-07 09:57:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported a full-year net loss of EUR 674 million in 2013, the third straight annual deficit, as sales fell 9.1 percent to EUR 23.41 billion. The full-year result reflected goodwill writedowns of EUR 2.2 billion made in the first half of the year, without which the group profit would have been EUR 1.5 billion. EBITDA for the year fell EUR 985 million to EUR 9.54 billion with the EBITDA margin coming in at 40.8 percent. The company confirmed that it had met its debt target of EUR 27 billion, having cut debt by EUR 1.48 billion to EUR 26.81 billion, after selling assets including its stake in Telecom Argentina. It also scrapped its dividend for ordinary shares for the first time in its history as a public company, but confirmed that it will pay a dividend of EUR 0.0275 on its saving shares and will remunerate all shareholders next year as it expected a smaller decline on its domestic revenue in 2014. In Italy revenues fell by 9.6 percent to EUR 16.18 billion, affected by cuts to mobile termination rates that came into force in July 2013, intense competition and a worsening economic outlook. EBITDA dropped 10.7 percent to EUR 7.74 billion, while EBITDA margin came in at 47.9 percent, 0.6 percent down on 2012. However, there were signs of recovery in the fourth quarter of 2013, with revenues dropping 7.7 percent to EUR 4.11 billion, compared to drops of 9.1 percent in the third quarter and 10.5 percent in the first quarter of 2013.
Tags: target
italia
debt
meets
Telecom Italia scraps dividend as full-year loss narrows
2014-03-07 01:00:00| Total Telecom industry news
CEO 'hopeful' about 2014 as operator's net debt edges below 27 billion.
Tags: loss
italia
telecom
dividend
Telecom Italia supports Patuano's plan for independent board
2014-02-28 09:08:00| Telecompaper Headlines
(Telecompaper) Telecom Italia's directors unanimously approved proposals submitted by CEO Marco Patuano to safeguard the interests of minority shareholders when the board comes up for renewal on 16 April. The proposals include cutting the current 15-member board to either 11 or 13 and allowing shareholders who own a voting stake of at least 0.5 percent to present board candidates. The company added in a statement that, under the new guidelines, the new board would have to have a clear majority of directors who are independent from the holding Telco SpA, the largest shareholder in Telecom Italia with a 22.4 percent stake. Telco is controlled by Telefonica and currently has the power to appoint a majority of the board members. Italy's market regulator Consob has raised concerns in recent months that some of the members not appointed by Telco have ties to it. Telefonica CEO Cesar Alierta and another former Telefonica executive stepped down from Telecom Italia's board in December to avoid perceived conflicts of interest in Brazil, where the two operators compete.
Tags: board
plan
independent
italia
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