{"id":28201,"date":"2020-05-19T10:21:34","date_gmt":"2020-05-19T10:21:34","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=281391"},"modified":"2020-05-19T10:21:34","modified_gmt":"2020-05-19T10:21:34","slug":"telecom-italia-opens-talks-to-hack-down-inwit-stake","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/05\/19\/telecom-italia-opens-talks-to-hack-down-inwit-stake\/","title":{"rendered":"Telecom Italia opens talks to hack down Inwit stake"},"content":{"rendered":"

<\/p>\n

\tTelecom Italia entered into negotiations with an investment consortium to sell a stake in its joint venture tower unit Inwit, as it looks for a cash injection following a weak Q1.<\/p>\n

In an earnings statement, Telecom Italia said it was involved in exclusive discussions with a consortium led by Ardian Infrastructure to sell a stake in Inwit, which it owns as a joint venture with Vodafone Group.<\/p>\n

Details of potential terms were not disclosed by the operator, but Bloomberg reported Telecom Italia plans to sell about 16 per cent of its 33.2 per cent stake, which has a valuation of \u20ac1.5 billion.<\/p>\n

Last month, Telecom Italia and Vodafone sold around 4 per cent of their stakes [1] in Inwit for a total of \u20ac800 million, funds the Italian operator used to cut debt.<\/p>\n

Q1 numbers
\nTelecom Italia\u2019s Q1 performance underlined why it is looking to raise funds through assets sales.<\/p>\n

It reported a revenue decline of 8.4 per cent year-on-year to \u20ac4 billion, attributed to lower customer store visits during a Covid-19 (coronavirus) lockdown, falling product sales and a decline in roaming traffic.<\/p>\n

Net debt, which it has been looking to reduce for a while, remains high at \u20ac26.7 billion, although it was reduced by \u20ac1.8 billion.<\/p>\n

The net profit metric, however, improved from \u20ac165 million to \u20ac560 million, benefitting from capital gains through the Inwit merger with Vodafone, along with reductions in financial charges and taxes.<\/p>\n

Commenting on the ongoing pandemic, Telecom Italia said it increased network capacity and coverage, as it experienced traffic spikes up to a maximum of 80 per cent for fixed line, 30 per cent to 40 per cent in mobile, and 11-times in video applications for remote working.<\/p>\n

While its financial performance was impacted Q1, Telecom Italia said the increased adoption of digital services gave it optimism for its medium- to long-term outlook.<\/p>\n

Iliad dispute
\nTelecom Italia also revealed it is facing legal action from Iliad Italia over alleged anti-competitive conduct.<\/p>\n

Iliad argued Telecom Italia\u2019s Kena Mobile brand had hindered its \u201centry to and consolidation in the mobile phone market in Italy\u201d, with the France-headquartered company seeking damages of at least \u20ac71.4 million.<\/p>\n

Telecom Italia said it would defend itself agains the claims.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/tim-vodafone-italy-gain-e800m-from-inwit-sales\/<\/p>\n\n

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Telecom Italia entered into negotiations with an investment consortium to sell a stake in its …<\/p>\n

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