telecom italia spa-spon adr (TI) Key Developments
CADE Asks Telefónica To Sell Stake In Units
Dec 5 13
Telefónica, S.A. (CATS:TEF) may sell stake in Telecom Italia S.p.A.’s (BIT:TIT) unit. On December 4, 2013, Brazil's antitrust authority said that Telefónica must either sell all direct and indirect interest in Telecom Italia’s TIM Participacoes S.A. (BOVESPA:TIMP3) or find another partner for Vivo Participacoes S.A. The Antitrust authority, CADE stated that Telefonica holds an indirect stake in TIM Participacoes which is directly competing with Vivo on the Brazilian market. It added that the controversy can be solved if Telefonica sells its interest in TIM Participacoes or Tim Brasil Serviços e Participações S.A., or if it finds a partner to share control over Vivo.
Telecom Italia and Visa Europe Sign Strategic Agreement for Mobile Payment Services
Dec 2 13
Telecom Italia and Visa Europe have signed a strategic agreement to enhance the payment for goods and services using a range of mobile handsets. Under the terms of the agreement the two companies will make mobile payments services available to the over 31 million TIM customers across Italy, in support of Visa's vision to reduce the use of cash at the point of sale. The new service, building on successful pilots carried out in the Milan area in 2012, will allow consumers to use selected smartphones to make contactless transactions at enabled point of sale terminals across Europe. TIM will also be installing contactless terminals in their stores across Italy. TIM and Visa will also launch services supporting secure, quick and convenient P2P (person-to-person) payments, to enable money transfer from smartphones to other people, and e-commerce payments, allowing customers to shop online with their mobile phones.
Telecom Italia Denies Any Sale Stake In Tim Brasil
Dec 2 13
Telecom Italia S.p.A. (BIT:TIT) said that it is not planning to sell any stake in Tim Brasil Serviços e Participações S.A. Telecom Italia reaffirms the strategic importance for the group of its shareholding in Tim Brasil and in the Brazilian market, denying that there are any ongoing contacts with potential buyers of the subsidiary, that a sale or combination with other operators are being pursued or that purchase offers have been received, not even unsolicited.
Telecom Italia Launches Fibre-Optic Service in Brescia
Nov 22 13
Telecom Italia has announced the expansion of its fibre-optic service to the northern Italian city of Brescia through installation of around 210 km of fibre cable to connect 454 street cabinets. Over 75,000 households now have access to the company's high-speed broadband service, providing customers with internet connections of up to 30 Mbps.
Telecom Italia, Invitalia and Italtel Signs Development Agreement Worth EUR 61 Million to Extend the Broadband Network and Encourage Next-Generation Services in Sicily
Nov 22 13
Telecom Italia, Invitalia and Italtel have signed a development agreement worth over EUR 61 million to extend the broadband network and encourage next-generation services in Sicily. The public-private partnership will entail an investment of more than EUR 41 million from Telecom Italia to increase fixed-line and mobile broadband network capacity throughout Sicily, replacing copper network infrastructure with more fibre optics and paving the way for future next-generation broadband network development.