Key Developments: Telecom Italia SpA (TI.N)

TI.N on New York Stock Exchange

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4 May 2015
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Latest Key Developments (Source: Significant Developments)

Telecom Italia launches offering of up to 2 bln euro bonds
Thursday, 19 Mar 2015 12:57am EDT 

Telecom Italia SpA:Launches offering of unsecured equity-linked bonds for up to 2 billion euros to qualified institutional investors.To convene extraordinary general meeting to seek shareholder approval for capital increase meant to serve bond conversion.  Full Article

Telecom Italia SpA sees stable EBITDA in 2016 and EBITDA growth in 2017; plans to pay minimum dividend on saving shares; started procedures for IPO of its Towers
Friday, 20 Feb 2015 05:19am EST 

Telecom Italia SpA:Approves its strategy for FY 2015 to 2017.Sees about 3 billion euros investments in Italy and 14 billion reais investments in Brazil.in Italy 3 billion euros earmarked over the three year period for the development of optic fibre, an increase of 1.1 billion from the figure in the previous plan.Plans to accelerate NGN and LTE coverage, at the end of 2017 optic fibre to reach 75pct of the population, and 95 pct will have access to 4G.Domestic EBITDA stabilization target confirmed for 2016 and increased performance expected in 2017.Around 4,000 people will be recruited by the company over the next four years.Telecom Italia Group has set itself the target of reducing labour costs by a total of 100 million euros.plans to pay minimum dividend on saving shares.started procedures for IPO of its Towers.  Full Article

Telecom Italia SpA approves buyout offer for Telecom Italia Media SpA-Reuters
Thursday, 19 Feb 2015 01:42pm EST 

Telecom Italia SpA:Telecom Italia will launch an offer to buy out minority investors in its TV broadcasting unit, Telecom Italia Media, in a bid to simplify its structure and cut cost-Reuters.Telecom Italia owns 77 percent of Telecom Italia Media and buying out the remaining stake will cost it around 25 million euros.Telecom Italia would incorporate its unit Telecom Italia Media unit (TI Media) after a buyout offer in shares which it expects to complete by the end of September.Under a plan, whose outline was approved by the boards of the two companies on Feb. 19, Telecom Italia will offer 0.66 ordinary shares for each TI Media ordinary share and 0.47 of its saving shares for each TI Media saving share.The deal will generate savings and facilitate a possible sale of TI Media unit digital broadcasting firm Persidera.Telecom Italia Media had trading in its shares halted on Thursday pending the release of the statement.After the buyout, Telecom Italia Media will be merged into Telecom Italia by the end of the third quarter.Investors in Telecom Italia Media can exercise a withdrawal right, opting to be paid off in cash at market prices.  Full Article

Telecom Italia SpA comments on workers referendum and reorganization plans for its Caring Services Division
Friday, 6 Feb 2015 04:05am EST 

Telecom Italia SpA:Says negative outcome of January's workers referendum on draft agreement reached on Dec. 18, 2014 on the Caring Services Division.Will start implementing agreements for Caring Services Division signed with trade unions Sli-Cgil, Fistel-Cisl and Uilcom-Uil on March 27, 2013.Agreements envisage rationalization of regional offices of Caring Services, with the closure of some offices and the creation of a separate company to supply caring services.New company that will be created will be part of the Telecom Italia Group.  Full Article

Telecom Italia SpA issued eight-year bond for 1 billion euros the company is funding below its average cost of debt
Monday, 12 Jan 2015 01:04pm EST 

Telecom Italia SpA:Says it issued eight-year bond for 1 billion euros the company is funding below its average cost of debt.  Full Article

Acotel Group SpA's Noverca Italia transfers 170,000 consumer customers to Telecom Italia SpA-Reuters
Thursday, 8 Jan 2015 07:00pm EST 

Acotel Group SpA:Says that its unit Noverca Italia and Telecom Italia SpA signed an agreement for the transfer to TIM of Noverca's more than 170,000 consumer customers-Reuters.Says the agreement allows Noverca customers, starting in February and ending in May 2015, to switch their mobile phone number to TIM with MNP, maintaining their price plans substantially unchanged.Says the agreement allows Noverca to focus on its MVNA (Mobile Virtual Network Aggregator) business.Says with the ending of services to its retail customers, scheduled for early May, Noverca will specialize in offering a ready-to-use service to its MVNO (Mobile Virtual Network Operator) customers.Says Noverca will receive a fee that will vary according to the numbers and types of customer who migrate: if all customers migrate to TIM, the fee will total 3.9 million euros.  Full Article

Telecom Italia SpA gives Q4 2014 EBITDA outlook - Conference Call
Friday, 7 Nov 2014 06:00am EST 

Telecom Italia SpA:Expects Q4 2014 on a reported basis, negative mid single-digit EBITDA performance.  Full Article

Telecom Italia SpA completes transfer of 17 pct of Sofora to Fintech
Wednesday, 29 Oct 2014 04:30pm EDT 

Telecom Italia SpA:Says the first closing has taken place pursuant to the provisions of the agreements executed on Oct. 24 regarding the acquisition by Fintech of the stake held by the Telecom Italia group in Telecom Argentina.Says the sale to Fintech of the 17 pct minority interest held by Telecom Italia International in Sofora and the receipt of the amount of $215.7 million has occurred.Says Fintech has purchased the note issued by Telecom Italia International for an amount of $600.6 million and pledged it in favor of Telecom Italia and Telecom Italia International.  Full Article

Telecom Italia SpA executes amended agreements for sale of interest in Telecom Argentina
Saturday, 25 Oct 2014 08:46am EDT 

Telecom Italia SpA:Says it executed amended agreements for the sale of interest in Telecom Argentina.Says the total aggregate consideration and payments contemplated by the agreement for the sale of the entire shareholding remains unchanged at $960 million.Says, of such amount, $113.7 million has already been received since Nov. 2013 and a further $215.7 million is expected to be received on the first closing by the end of Oct.Says the sale of the 51 pct controlling interest in Sofora and receipt of the remaining consideration is expected within the next two and one-half years, subject to Argentinean regulatory clearance.Says guarantees of performance by Fintech secured by pledge of collateral with a value of $600.6 million.Says in the meantime no material change in the corporate governance of the Argentinean companies.  Full Article

Telecom Italia SpA says Board confers powers to management to change sale process of Telecom Argentina SA to Fintech
Friday, 26 Sep 2014 04:12pm EDT 

Telecom Italia SpA:Says the Board has conferred powers on the management to evaluate and define with Fintech possible amendments to the sale process of the Group's entire controlling stake in Telecom Argentina SA.The sale was previously agreed in the contract signed on Nov. 13, 2013.The negotiations will follow a term sheet setting out certain principles to manage the delay in obtaining required regulatory approvals, including certain guarantees for the company.Says, in the meantime, as proposed by Fintech, the agreement entered into last year will remain in force until Oct. 24.  Full Article

BRIEF-Generali says hedged against fall in Telecom Italia stake value

* Generali has not sold stake in Telecom Italia through forward contracts

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