Latest news with #PosteItaliane
Reuters
05-08-2025
- Business
- Reuters
Telecom Italia posts 5% rise in H1 core earnings
Aug 5 (Reuters) - Telecom Italia (TIM)( opens new tab reported a 5% increase in its core earnings for the first half of the year on Tuesday, as its fast-growing Brazilian business offset sluggish growth in Italy. The company named Piergiorgio Peluso as CFO to replace Adrian Calaza, confirming an earlier report. Peluso, CFO of motorway operator Autostrade per l'Italia, had previously served as TIM CFO for seven years until 2019. His appointment is effective as of November 6. TIM added that its Chief Public Affairs and Security Officer Eugenio Santagata had resigned, effective immediately. According to an earlier report, Italian shipbuilder Fincantieri ( opens new tab is poised to appoint Santagata to head its defence division. TIM, the heir to Italy's phone monopoly, this year returned to state-backed hands with financial conglomerate Poste Italiane ( opens new tab replacing France's Vivendi ( opens new tab as its single largest investor with a 24.8% stake. Having sold its prized landline network last year, in a move aimed at slashing debt, TIM is expected to play a role in the long-awaited consolidation of Italy's telecoms sector, which has been under pressure for years amid stiff price competition. Italy's biggest telecoms group said its EBITDA after leases rose to 1.7 billion euros ($2.0 billion) in the first half of the year. Around 0.8 billion euros came from its Brazilian business, up 6.1% from the year before. Its domestic EBITDA after leases came in at 1 billion euros, up 4.2% from the year before. Total revenues for the semester came in at 6.6 billion euros. TIM's net debt after leases stood at 7.5 billion euros as of June 30. TIM confirmed the annual financial targets it had provided in February, including a return to cash generation and a 7% growth in group's core profit. ($1 = 0.8655 euros)
Reuters
22-07-2025
- Business
- Reuters
Poste Italiane lifts profit outlook after Q2 earnings beat forecast
MILAN, July 22 (Reuters) - Poste Italiane ( opens new tab on Tuesday raised its profit outlook for the current year after it reported better-than-expected second quarter operating profit, boosted by its financial services division. Adjusted earnings before interest and taxes (EBIT) rose by 10.4% to 864 million euros ($1.01 billion), comfortably above a company-compiled consensus of 790 million euros. Poste said it now targets an adjusted operating profit of 3.2. billion euros this year, up from 3.1 billion euros it had previously guided for. ($1 = 0.8549 euros)
The Star
16-07-2025
- Business
- The Star
Italy asks Poste, state mint to revive talks over PagoPA deal
FILE PHOTO: A signboard of Poste Italiane is seen hanging outside a post office in central Rome October 9, 2015. REUTERS/Alessandro Bianchi/File Photo MILAN (Reuters) -Italy wants state-backed Poste Italiane and the state mint to revive talks to buy PagoPA, the Treasury-owned platform that handles digital payments to the public administration, two sources familiar with the matter said. Under a plan drafted last year, Poste - which has expanded beyond its core mail and parcels business into financial, broadband and energy supply services - would take a minority stake in PagoPA to bolster its payments business. But negotiations hit a snag over the valuation of PagoPA, with Poste and the mint questioning a price tag of 500 million euros ($581 million) determined by a Treasury adviser, Reuters reported in April. According to one of the sources, who declined to be named due to the sensitivity of the matter, the parties are now seeking to finalise a deal in September, although no formal deadline has been set. PagoPA, which this year has handled payments to Italy's public administration worth 57 billion euros, is set to play a leading role in the Italian government's efforts to set up a digital wallet through the IO mobile app. The app enables Italians to store official documents, including proof of their digital identity to access public services online, and to make payments. The prospect of Poste taking a stake in PagoPA has alarmed Italy's crowded banking sector, which is grappling with strong competition in digital payments from the likes of Apple, Google owner Alphabet and PayPal. For its part, Poste is concerned that part of its business might be dented by PagoPA's plan to develop the so-called SEND project, a digital platform for public administrations to send and receive legal notices, a source close to the matter said. ($1 = 0.8607 euros) (Reporting by Elvira Pollina in Milan and Giuseppe Fonte in Rome. Editing by Mark Potter)
CNA
16-07-2025
- Business
- CNA
Italy asks Poste, state mint to revive talks over PagoPA deal
MILAN :Italy wants state-backed Poste Italiane and the state mint to revive talks to buy PagoPA, the Treasury-owned platform that handles digital payments to the public administration, two sources familiar with the matter said. Under a plan drafted last year, Poste - which has expanded beyond its core mail and parcels business into financial, broadband and energy supply services - would take a minority stake in PagoPA to bolster its payments business. But negotiations hit a snag over the valuation of PagoPA, with Poste and the mint questioning a price tag of 500 million euros ($581 million) determined by a Treasury adviser, Reuters reported in April. According to one of the sources, who declined to be named due to the sensitivity of the matter, the parties are now seeking to finalise a deal in September, although no formal deadline has been set. PagoPA, which this year has handled payments to Italy's public administration worth 57 billion euros, is set to play a leading role in the Italian government's efforts to set up a digital wallet through the IO mobile app. The app enables Italians to store official documents, including proof of their digital identity to access public services online, and to make payments. The prospect of Poste taking a stake in PagoPA has alarmed Italy's crowded banking sector, which is grappling with strong competition in digital payments from the likes of Apple, Google owner Alphabet and PayPal. For its part, Poste is concerned that part of its business might be dented by PagoPA's plan to develop the so-called SEND project, a digital platform for public administrations to send and receive legal notices, a source close to the matter said. ($1 = 0.8607 euros)
Bloomberg
20-05-2025
- Business
- Bloomberg
Poste Italiane Could Be Partner for Digital Euro, Cipollone Says
Poste Italiane SpA could help introduce the digital euro to Italy, according to European Central Bank Executive Board member Piero Cipollone. The ECB is looking for partners to carry the project over 'the last mile' of implementation once it has been set up, Cipollone said, speaking at an online ASviS event.
