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-24% and 1 billion burned, market skeptical about the recovery plan

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-24% and 1 billion burned, market skeptical about the recovery plan

The Telecom Italia shares I am collapse in Bag until closing with a loss of -23,79%. In one session he was lost approximately 1 billion Of capitalization. The group presented the new planwhich however was not enough to reassure investors.

Telecom Italia SpA shares plummet

The one presented is the first plan of the telephone group without the property of fixed network. A network that will pass to the consortium led by the fund by the summer US Kkr. Sparkle will continue to remain in the Telecom area.

The objective, expressed byCEO Pietro Labriolais to sell the fixed network so as to allow Tim to “move on the market with fewer financial and regulatory constraints and with a greater focus on industrial components”.

Tim’s CEO, Pietro Labriola.

Tim specifies that despite the sale, it will remain “the most well-infrastructured telecommunications operator in Italy and will continue to invest in its mobile network, accelerating the development of 5G, counting on the widest spectrum of frequencies and the largest data transport network in the country , and on the development of its technological ecosystem, composed among other things of an infrastructure of 16 data centers located throughout the national territory”.

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What’s in the Telecom plan

The plan comes to 2026 and expects average annual revenue growth of +3% for the service company, after the disconnection of the network. For Tim domestic the expected growth is +2% annual. Going into concrete terms, the estimated revenues start from the initial 10 billion in 2023 and reach 10.7 billion.

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Market skepticism

According to observers, the growth objectives I am Too highthe market is agitated and Tim, it is pointed out, has lost customers.

During Capital Market Day, CEO Pietro Labriola spoke of “an achievable goal”. He echoes the financial director Adrian Calaza: “It is not an aggressive plan, it is a challenging plan but if we make the efforts we need to make we will succeed”.

Tim’s shareholder base is made up of French women Vivendi for his share of majoritypari al 23,75%; then there are Cassa Depositi e Prestiti (SpA controlled by the Ministry of Economy) with 9.81% and the Telecom Italia Group (0.69%).

The rest of the shares are fragmented between Italian institutional investors (3.75%), foreign institutional investors (44.20%) and other shareholders (18.80%).

Photo source: IPA

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