Telecom Italia SpA Updates on Partial Spin-Off of Telecom Italia Sparkle; Confirms FY 2013 Revenues and EBITDA Guidance

Wednesday, 8 May 2013 12:44pm EDT 

Telecom Italia SpA announced that the Board of Directors has approved the partial spin-off of Telecom Italia Sparkle, via transfer to the parent Telecom Italia of the Network Operations business unit to ensure: for the Sparkle network the delivery, operation and management of customer services and technical support as well as the operation of departmental networks and Network & Service Management systems; the protection of relations with the judicial authorities and the realization of relative international services. The spin-off is expected to conclude by the third quarter of 2013. Telecom Italia SpA also announced that it has confirmed the Company's revenues and EBITDA guidance for fiscal year 2013. The Company expects to report for fiscal year 2013 revenues essentially unchanged from fiscal year 2012 and EBITDA with a low-single digit percentage reduction. The Company reported for fiscal year 2012 revenues of EUR 29,503.00 million and EBITDA of EUR 11,645.00 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report for fiscal year 2013 EBITDA of EUR 11,245.89 million. 

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