Net loss of monster for Telecom Italia, which does not confirm target 2018
Milan – Operator Telecom Italia (Tim), whose main shareholder is French Vivendi, did not confirm the target for 2018 on Thursday after losing a monster due to property devaluation.
Its net loss in the third quarter was about 1.4 billion euros, an increase of 437 million over the previous year.
During the first nine months of this year, the loss amounted to 868 million euros (770 million on a similar basis), compared to the profit of 1.03 billion euros in the same period of 2017.
Devaluations amounted to about 2 billion euros.
They are due to "aggravating the competitive framework and regulation and higher interest rates," Tim said in a statement, adding that they do not change the strategic priorities of the three-year plan.
In this context, the group did not yet confirm its target for 2018 for the corrected net debt and the Ebitda ratio around 2.7 times at the end of 2018, established before acquiring 5G frequencies.
This decision explains "many factors, including fines relating to the abuse of power (caused by the government due to the failure of the Team's information obligations, Ed), consolidation in the context of negative competition, tensions related to domestic market regulations, added weakness in the exchange rate of Brazilian creativity ".
CCO / FJB
(© AFP / 08 November 2018 22h30) <! –
(AFP / 08.11.2011 23:31)