|Bid||6.6400 x 1000|
|Ask||6.6600 x 1000|
|Day's range||6.5910 - 6.6800|
|52-week range||5.8000 - 11.2800|
|PE ratio (TTM)||11.48|
|Forward dividend & yield||N/A (N/A)|
|1y target est||15.81|
Telecom Italia SpA was the highest bidder in an Italian auction of airwaves for fifth-generation mobile services that raised at least $2.9 billion, as the industry piles into a technology whose commercial potential is yet to be tested. The former monopoly offered 951 million euros ($1.1 billion) for four blocks of spectrum, followed by Iliad SA with 749 million euros and Vodafone Group Plc’s local unit with 716 million euros, Italy’s ministry for economic development said on its website Tuesday. As a newcomer, France’s Iliad had a special right to bid for a reserved package of 700-megahertz frequencies, the most valuable.
Elliott Management Corp. is asking Telecom Italia SpA’s other shareholders for something not typically associated with a pushy activist: patience. In a statement published Monday, Elliott said the board of Telecom Italia, which the New York-based fund installed four months ago, should be given more time to follow through on its turnaround plan. While acknowledging that the stock performance has been disappointment, the board hasn’t yet been able to unleash its potential, partly because of pressure on Italian stocks and telecom companies generally, Elliott said.
Telecom Italia SpA (BIT:TIT), a large-cap worth €10.70b, comes to mind for investors seeking a strong and reliable stock investment. Risk-averse investors who are attracted to diversified streams of revenueRead More...
The veteran telecoms executive has had a turbulent year at the helm of the former Italian national carrier. Singer’s activist fund, Elliott Management Corp., acquired a 9 percent stake in Telecom Italia and set about agitating for change. In April, it managed to oust most of the board appointees of Vivendi SA, the French media conglomerate that owns 24 percent of the shares, and replace them with a lineup of Elliott-backed directors.
The open conflict between two warring investors in Telecom Italia SpA is finally catching up with Chief Executive Officer Amos Genish. Genish’s job is now at risk because company directors representing Elliott Management Corp. are impatient with his lack of progress in turning around the former phone monopoly, according to people familiar with the matter. While the U.S. activist investor wants Telecom Italia to make changes like selling a stake in its towers company and a full spinoff of the phone network, Genish has been resistant, instead focusing on a strategy of organic growth, said the people, who asked not to be identified as the deliberations are private.
It’s a healthy reminder to Vivendi SA and activist fund Elliott Management Corp. to temper their more combative instincts and let the respected telecoms executive get on with the job. This applies just as much to Paul Singer’s hedge fund as it does to Vincent Bollore’s French media conglomerate. Just 50 days after launching its 5.99 euros per month cellphone contracts in Italy, Niel’s company said last week it had a million subscribers there.
Telecom Italia SpA is pressing ahead with a sale of its Sparkle undersea-cable unit and is looking at selling other parts of the business to boost its stock price, according to people familiar with the matter. The board has approved a strategic review of Sparkle, said the people, who asked not to be identified because the deliberations are private. Chief Executive Officer Amos Genish said in March he was pitching the unit to potential buyers in early-stage talks.
Does the share price for Telecom Italia SpA (BIT:TIT) reflect it’s really worth? Today, I will calculate the stock’s intrinsic value by taking the expected future cash flows and discountingRead More...
Telecom Italia Chief Executive Officer Amos Genish is expected to face tough questions at the phone carrier’s June 25 meeting after he criticized unidentified directors for feeding "untrue and unreliable speculation," according to people familiar with the matter. The CEO, who was installed by the company’s biggest investor Vivendi SA in 2017, will be asked to explain his unusually frank comments made to reporters who were summoned to a briefing on Wednesday, said the people, who asked not to be named discussing a management issue. Genish’s position could be at risk if he doesn’t address the concerns of some board members, they said.
Telecom Italia SpA posted first-quarter sales that beat analysts’ estimates driven by growth in domestic mobile and broadband subscriber numbers. In the carrier’s first results since U.S. activist investor Elliott Management Corp. took control of its board this month, Telecom Italia said revenue rose 2.7 percent in organic terms to 4.71 billion euros ($5.5 billion). Elliott defeated Vivendi SA after shareholders supported its call to improve corporate governance and push for asset sales and a reintroduced dividend.
MILAN (AP) — Telecom Italia has announced a content-sharing agreement with Mediaset, Italy's largest private broadcaster, as the former telecom monopoly pushes ahead with its plan to improve digital content after a boardroom shakeup.
Telecom Italia's new board dominated by delegates chosen by a U.S. hedge fund has confirmed Amos Genish as CEO and named one of the new board members, Fulvio Conti, as chairman. The moves come after Elliott engineered a shareholder coup last week, wresting the board from controlling shareholder, France's Vivendi. Conti, a longtime Italian manager, said the board confirmed support for Genish's 2018-2020 business plan.
Bloomberg's Dan Liefgreen discusses Elliott Management's push to take control of Telecom Italia's board on "Bloomberg Markets: European Close." (Source: Bloomberg)
ROZZANO, Italy (AP) — French media group Vivendi lost de facto control of Telecom Italia on Friday when a U.S. activist hedge fund won a majority of seats on the former state monopoly's board in a dramatic shareholders' showdown that also raised questions about the government's role.
Paul Singer’s Elliott Management Corp. has won the battle with Vincent Bollore’s Vivendi SA over Telecom Italia SpA. At a meeting in Milan, investors in the Italian carrier voted for a board that will consist of 10 directors nominated by hedge fund activist Elliott, and five picked by Vivendi, the French media conglomerate that is the biggest shareholder. In the minutes before the vote started, a Vivendi spokesman was still telling reporters that it intended to ensure that CEO Amos Genish's plan for Telecom Italia wouldn't change even if the Elliott slate won.
Two months to the day since Elliott Management Corp. declared a stake in Telecom Italia SpA, the bitter standoff with the operator’s biggest shareholder Vivendi SA reaches a head at a shareholder meeting on Friday. Investors are voting on whether to elect a board of directors primarily made up of Elliott or Vivendi nominees. Elliott – The hedge fund activist wants to divest network infrastructure business Sparkle, sell a minority stake in the national Italian network known as NetCo, and convert shares with added voting rights – largely controlled by Vivendi – into ordinary shares.