Monster's net loss for Telecom Italia, which does not confirm the 2018 target



Monster's net loss for Telecom Italia, which does not confirm the 2018 target

Milan – The Telecom Italia (Tim), whose main shareholder is French Vivendi, did not confirm the target for 2018 on Thursday after losing a monster due to devaluation of assets.

Its net loss in the third quarter amounted to about 1.4 billion euros, compared with a profit of 437 million euros this year.

In the first nine months of the year, the loss amounted to 868 million euros (770 million in a similar way), while in the same period of 2017 it amounted to 1.03 billion euros.

Devaluations amounted to about 2 billion euros.

These are the result of a "deterioration of 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, however, the group did not acknowledge the aim of reducing net debt and Ebitda's ratio in 2018 approximately 2.7 times at the end of 2018, found prior to the acquisition of 5G frequencies.

This decision is explained by "a number of factors, including the fine associated with the golden power process (caused by the government due to the failure of the Information Timetable, Ed), consolidation in the context of negative competition, the tension in the domestic market regulation they have added the weakness of the Brazilian real exchange rate. "

CCO / FJB

TELECOM ITALIA

Vivendi

(© AFP / 8 November 2018 22h30) <! –

(AFP / 11/08/2013 23:31)
->


Source link