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Telecom Italia fined EUR 104 million for antitrust violation

2013-05-13 09:18:00| Telecompaper Headlines

(Telecompaper) Italy's Antitrust Authority said it had fined Telecom Italia EUR 103.8 million for abusing its dominant market position in relation to its infrastructure network. The authority said it had identified two separate actions through which Telecom Italia had protected its market share by creating obstacles to competitors' broadband internet and voice offerings to retail clients. The investigation was launched in June 2010.

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Telecom Italia S.p.A. Stock Rating Reaffirmed by BNP Paribas

2013-05-13 01:14:38| Telecom - Topix.net

's stock had its "outperform" rating reaffirmed by BNP Paribas in a research note issued on Monday, AnalystRatings.Net reports.

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Telecom Italia net profit down sharply, sales fall 8% in Q1

2013-05-09 09:34:00| Telecompaper Headlines

(Telecompaper) Telecom Italia reported first-quarter revenues down 8.1 percent year-on-year to EUR 6.796 billion. Domestic revenues fell 10.1 percent to EUR 4.024 billion, and revenues from Brazil and Argentina were dampened by negative currency effects. EBITDA declined 10.1 percent to EUR 2.672 billion, and the margin dropped to 39.3 percent from 40.2 a year ago, hurt by a larger share of business from South America, where margins are lower, and higher smartphone sales. Net profit dropped to EUR 364 million from EUR 605 million in the year-earlier period. Capex fell slightly to EUR 878 million, and operating cash flow plunged to EUR 137 million from EUR 626 million a year ago, hurt by accumulated payments for the previous quarter. This led to an increase in adjusted net debt to EUR 28.77 billion from EUR 28.27 billion at the end of December. The operator still targets debt of less than EUR 27 billion by year-end, as well as flat revenues and a low-single digit percentage drop in EBITDA this year. In addition, the company approved the partial spin-off of its carrier services division Telecom Italia Sparkle, expected to be completed by the third quarter.

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