Latest news with #TelecomItalia
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)
Wall Street Journal
24-07-2025
- Business
- Wall Street Journal
KKR Faces EU Probe Into Information Provided in $26 Billion NetCo Acquisition
The European Union opened an investigation into whether KKR KKR 1.62%increase; green up pointing triangle supplied the block's merger regulator with false or misleading information before the investment firm's multibillion-dollar purchase of Telecom Italia TIT 0.72%increase; green up pointing triangle unit NetCo was unconditionally cleared by officials last year. The European Commission approved the companies' deal in May 2024, initially ruling that KKR's bid to snap up Telecom Italia's broadband network assets for up to 22 billion euros ($25.90 billion) wouldn't affect competition in Europe. The watchdog had said the merged company wouldn't be able to deteriorate the conditions for rivals' access to services due to long-term agreements that FiberCop—a joint venture between Telecom Italia and KKR—held with several companies.
Yahoo
24-07-2025
- Business
- Yahoo
EU regulators to investigate if KKR provided misleading information in Telecom Italia deal
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators will investigate whether U.S. investment firm KKR provided incorrect or misleading information in its 22-billion-euro ($26 billion) acquisition of Telecom Italia's (TIM) fixed-line network deal, the European Commission said on Thursday. The Commission, which acts as the competition enforcer in the 27-country bloc, approved the deal unconditionally in May last year, attributing this in part to long-term agreements between FiberCop and telecoms companies Fastweb and Iliad. FiberCop is Telecom Italia's last-mile grid unit. "Under the investigation opened today, the Commission will assess whether KKR provided incorrect or misleading information about these agreements," the EU watchdog said in a statement. The Commission has in recent years cracked down on companies providing misleading information during merger reviews and handed out hefty fines. Sign in to access your portfolio
Reuters
24-07-2025
- Business
- Reuters
EU regulators to investigate if KKR provided misleading information in Telecom Italia deal
BRUSSELS, July 24 (Reuters) - EU antitrust regulators will investigate whether U.S. investment firm KKR (KKR.N), opens new tab provided incorrect or misleading information in its 22-billion-euro ($26 billion) acquisition of Telecom Italia's (TIM) ( opens new tab fixed-line network deal, the European Commission said on Thursday. The Commission, which acts as the competition enforcer in the 27-country bloc, approved the deal unconditionally in May last year, attributing this in part to long-term agreements between FiberCop and telecoms companies Fastweb and Iliad. FiberCop is Telecom Italia's last-mile grid unit. "Under the investigation opened today, the Commission will assess whether KKR provided incorrect or misleading information about these agreements," the EU watchdog said in a statement. The Commission has in recent years cracked down on companies providing misleading information during merger reviews and handed out hefty fines.
Reuters
18-07-2025
- Business
- Reuters
Autostrade CFO Peluso to return to Telecom Italia as finance chief, sources say
MILAN, July 18 (Reuters) - Piergiorgio Peluso, Chief Financial Officer of motorway operator Autostrade per l'Italia, is set to take over the top finance job at Telecom Italia (TIM) ( opens new tab, two sources told Reuters on Friday. Peluso, 57, previously served as TIM's CFO for seven years until 2019. He will rejoin the former phone monopoly next month, the people said. Spokespeople for TIM and Autostrade per l'Italia declined to comment. TIM had been searching in recent months for a successor to current CFO Adrian Calaza, as he is expected to leave the company later this year, sources previously told Reuters. Calaza, an Argentine national and former CFO of TIM's Brazilian unit ( opens new tab, took on the job of group finance chief in 2022. He oversaw last year's landmark sale of TIM's fixed-line network to a consortium led by U.S. investment firm KKR (KKR.N), opens new tab, a deal aimed at slashing the company's debt by 14 billion euros ($16.32 billion). Peluso's return to TIM is expected to be announced on August 5, when TIM's board meets to approve first-half results. He will assume the CFO role at a later date, one of the sources added. In May, TIM returned to state-backed hands, with financial conglomerate Poste Italiane ( opens new tab replacing France's Vivendi as the company's largest shareholder, with a 24.8% stake. ($1 = 0.8580 euros)
