telecom italia spa-spon adr (TI) Key Developments
Telecom Italia Secures EUR 100 Million Calabria Fibre Contract
Oct 22 14
Telecom Italia has been awarded the tender to bring fibre-optic technology to around 800,000 households in the southern Italian region of Calabria. The EUR 100 million programme launched by the ministry of economic development, the Infratel platform of government investment body Invitalia, the region of Calabria and Telecom Italia forms part of the national broadband plan to help reduce the country's digital divide and achieve the aims of the European Digital Agenda. Telecom Italia will invest EUR 36.6 million into the deployment, with EUR 63.5 million coming from European public funds. Specifically, the project envisages bringing fibre-optic broadband at speeds of between 30 and 100 Mbps to a total of 223 new localities in the Calabria region by 2015. In addition, around a thousand government offices, schools and hospitals will be upgraded to 100 Mbps broadband.
Telecom Italia chairman Rejects Spin-Off Rumors
Oct 17 14
Giuseppe Recchi, Chairman of Telecom Italia S.p.A. (BIT:TIT), strongly rejected a report in Italian daily La Repubblica suggesting that the government was planning to spin off Telecom Italia's ixed-line network and take a majority stake in the new company.
Intesa Sanpaolo Seeks To Exit Investment In Telecom Italia
Oct 15 14
Intesa Sanpaolo S.p.A. (BIT:ISP) confirmed it plans to exit its investment in Telecom Italia S.p.A. (BIT:TIT) Chief Executive Officer Carlo Messina said on October 15, 2014.
Telecom Italia Eyes Acquisitions
Oct 14 14
Telecom Italia S.p.A. (BIT:TIT) is looking for acquisition opportunities. Telecom Italia's Brazilian subsidiary can skip potential mergers and acquisitions for five years without losing market share, Marco Patuano, Chief Executive Officer of Telecom Italia, said in a newspaper interview. Despite that, Telecom Italia is still looking for opportunities, he added.
Mediaset To Reportedly Sell Its Mediaset Premium To Telecom Italia
Oct 10 14
Mediaset SpA (BIT:MS) may transfer its pay-TV R.T.I. - Reti Televisive Italiane S.p.A. to Telecom Italia S.p.A. (BIT:TIT) in exchange for an 8% stake in Telecom Italia, reported business daily Il Sole 24 Ore, quoting rumours circling in Rome. The report said that a true merger between the two groups is out of the scope as it would not only lack business sense but will also be incompatible with the current Italian legislation. Il Sole added that Mediaset, is getting ready to spin off the pay-TV business in a new company expected to become operational in December 2014, and the idea to transfer that new company into Telecom Italia would not be in conflict with Mediaset's strategies. Another idea may be Telecom Italia entering the new Mediaset Premium company. None of the ideas has reached the stage of a plan, nor contacts have been launched, Il Sole said.