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Telecom Italia SpA (TI.N)

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Latest Key Developments (Source: Significant Developments)

Telecom Italia chairman says no plan at present to list Sparkle unit
Tuesday, 7 Jun 2016 04:35am EDT 

Telecom Italia Chairman Giuseppe Recchi says: Spin-off and listing of Sparkle unit not on the table right now . Will participate in all tenders for broadband rollout advertised by the government Further company coverage: [TLIT.MI] (Reporting by Milan Newsroom).  Full Article

Telecom Italia CEO says tower unit Inwit is strategic
Thursday, 26 May 2016 09:53am EDT 

Telecom Italia CEO Flavio Cattaneo says: tower unit Inwit is strategic, answering a question about the possible sale of the business; "We are doing some thinking about it" Further company coverage: [TLIT.MI] (Reporting by Milan newsroom).  Full Article

Telecom Italia offer for Metroweb includes option of paying with stakes
Wednesday, 25 May 2016 10:41am EDT 

Telecom Italia CEO Flavio Cattaneo tells shareholders: Offer for fibre network Metroweb includes possibility of paying in cash or exchanging stakes in firms controlled by Telecom Italia . Reiterates conversion of savings shares would create value but market conditions not conducive at present Further company coverage: [TLIT.MI] [VIV.PA] (Reporting by Milan newsroom).  Full Article

Enel working on Metroweb acquisition - chairwoman
Thursday, 12 May 2016 04:51am EDT 

Enel chairwoman Patrizia Grieco says: there is a possibility the group could buy fibre-optic company Metroweb . "we are working on this" Further company coverage: [ENEI.MI] (Reporting by Milan newsroom).  Full Article

Enel CFO says Metroweb acquisition could speed up broadband plans
Tuesday, 10 May 2016 04:33am EDT 

Enel CFO Alberto De Paoli says on a conference call: an acquisition of fibre-optic firm Metroweb could held speed up Enel's broadband plans . if acquisition not possible, Enel will proceed on a standalone basis Further company coverage: [ENEI.MI] (Reporting by Milan newsroom).  Full Article

Telecom Italia SpA said to weigh 15,000 job cuts on Enel plan - Bloomberg - Reuters News
Wednesday, 6 Apr 2016 06:15am EDT 

Telecom Italia SpA:Telecom Italia SpA is considering about 15,000 job cuts in response to competition from a state-controlled power utility that’s planning a fiber-optic broadband network, people familiar with the matter said - Bloomberg.The move, amounting to almost 30 percent of the phone carrier’s Italian workforce, follows the March 23 announcement that Enel SpA will spend 2.5 billion euros on a network it will open to Telecom Italia’s competitors, said the people, who asked not to be identified because the talks are private.The Enel network will make it easier for Telecom Italia rivals to provide faster Web access, potentially cutting into the carrier’s business, they said.Publicity from potential job losses could serve a secondary purpose for Telecom Italia, drawing attention to a plan the carrier considers to be unfair competition and perhaps slowing it down.Enel’s biggest investor is Italy’s Economy Ministry with about a 24 percent stake, making the government, headed by Prime Minister Matteo Renzi a partner in the venture that may cause pain for workers at the former state phone monopoly.“If Telecom Italia responds to Enel’s plan with 15,000 job cuts, the blame will be on Renzi,” Michele Azzola, national secretary of the SLC-Cgil telecommunications workers union, said in an interview.  Full Article

Telecom Italia SpA's chief executive Patuano has resigned - sources - Reuters News
Saturday, 19 Mar 2016 03:11am EDT 

Telecom Italia SpA:Telecom Italia's chief executive Marco Patuano has submitted his resignation, three sources close to the matter said on Saturday. - RTRS.A fourth source said Patuano's resignation would be formalised within the next two to three days.Two of the sources said the rest of the board would remain in place and Chairman Giuseppe Recchi will stand in as CEO until a replacement for Patuano is found.There were media reports earlier this month that Patuano might leave, following pressure for a restructuring of the Italian company from its top shareholder, French media group Vivendi.  Full Article

Vivendi further increases stake in Telecom Italia
Tuesday, 1 Mar 2016 12:10pm EST 

Vivendi SA:Vivendi has increased stake in Telecom Italia to 23.8 pct.Vivendi previously had 22.8 percent of the Italian company.  Full Article

Telecom Italia SpA - Telecom Italia Brazil unit to lay off up to 1,000 workers -union - Reuters
Thursday, 11 Feb 2016 10:18am EST 

Telecom Italia SpA:TIM Participações SA, the Brazilian telephone unit of Telecom Italia SpA, plans to lay off 800 to 1,000 workers as it restructures operations to boost efficiency, a union representing company workers said on Thursday. - RTRS.Brazilian telecommunications unions have a meeting scheduled for Tuesday to discuss the restructuring, said Luis Antonio Souza, president of SinttelRio and general secretary of Fenattel, a national telecommunications union federation.TIM Participações has 13,600 workers in Brazil."They are in fact doing a restructuring and our estimate is a cut of 800 to 1,000 in various areas, technical, administrative, all areas," Souza said. The biggest cuts are expected in Sao Paulo and in Rio de Janeiro, where the company is based.TIM Participações declined to comment on the layoffs, but said it has been carrying out an efficiency plan designed to make ample changes to company procedures since the second half of last year. The plan aims to save 1 billion reais ($252 million) by the end of 2017.  Full Article

Telecom Italia SpA - Italy antitrust asks Niel for board minutes on Telecom Italia stake purchases - Reuters
Friday, 30 Oct 2015 10:18am EDT 

Telecom Italia SpA:Italy's antitrust authority has asked French telecom tycoon Xavier Niel to show board minutes regarding his purchases of 15.14 percent stake in Telecom Italia TLIT.MI, a source close to the matter said on Friday - RTRS.Niel, founder of French mobile operator Iliad, has emerged in the past two days as the second-largest investor in Telecom Italia thanks to call options contracts and other positions which grant him the equivalent of a 15.1 percent voting stake- RTRS.The authority had written both to Niel and Telecom Italia, the source said - RTRS."It asked Niel for information about his group and his telecoms business... it also asked him to show the minutes of the meetings during which the purchases of Telecom Italia's stake were approved," the source said - RTRS.The source added that the authority asked Telecom Italia to hand over all the documents needed to verify whether there are controlling investors in the group - RTRS.  Full Article

UPDATE 1-Spain's Cellnex says plan to acquire Italy's INWIT is on hold

BARCELONA, Spain, June 30 Spanish telecoms mast company Cellnex said on Thursday there had been no progress in its bid to acquire Italy's INWIT as the disposal by owner Telecom Italia appeared to be on hold.