March 7, 2013 / 8:31 PM / 5 years ago

Telecom Italia posts 1.6 billion euro 2012 loss after writedown

MILAN (Reuters) - Telecom Italia (TLIT.MI) posted a 2012 net loss of 1.6 billion euros on Thursday due to a result came because of a noncash writedown on past deals.

A Telecom Italia antenna booster is seen in northern Rome November 12, 2012. REUTERS/Alessandro Bianchi

In a statement, Italy’s former telecommunications monopoly said it would pay a 2012 dividend of 0.020 euro per ordinary share and of 0.031 euro per saving shares, with the total dividend payout of 450 million euros halved compared with 2011.

A writedown in 2011 on its domestic business of more than 7 billion euros generated a net loss of 4.73 billion euros.

Shares in Telecom Italia ended up 2.9 percent on Thursday. The Milan blue chip index was up 0.3 percent.

Reporting by Jennifer Clark; Editing by Gerald E. McCormick

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