Telecom Italia to grow core profits from 2020, to explore all options on network
Reuters
Published Feb 21, 2019 19:43
Telecom Italia to grow core profits from 2020, to explore all options on network
MILAN (Reuters) - Telecom Italia (MI:TLIT) (TIM) on Thursday pledged to accelerate cost cutting, increase shareholder returns and grow core profits from next year in the first strategy plan under new Chief Executive Luigi Gubitosi.
Italy's biggest phone group said group organic earnings before interest, depreciation and amortisation (EBITDA) and service revenues would decrease by a low single digit this year, but grow at a low single digit rate in 2020 and 2021.
TIM said it had already launched several initiatives to unlock value at the former state phone monopoly, including negotiations with smaller broadband rival Open Fiber an "all possible options including a full business combination on fixed network".
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Written By: Reuters
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