Telecom Italia shares, TIT share prices on the Stock Exchange

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ISIN code: IT0003497168
Sector: Communication
Industry: Specialized Telecommunications

Le actions of Telecom Italia are listed on the Milan Stock Exchange with the ticker TIT.

Look at the history of the quotation of the share on the Milan Stock Exchange

Company Description

Telecom Italia SpA (or Tim SpA) is an Italian company, parent company of the Tim Group, which operates in the telecommunications sector. The company offers in Italy and abroad fixed telephony, mobile telephony, public telephony, IP telephony, Internet and cable television services (using IPTV technology). Telecom Italia SpA is the first Italian telecommunications operator and leader in Italy and Brazil in the information and communication technologies (ICT) sector: it develops fixed, mobile, cloud and data center infrastructures and offers services and products for communications and 'entertainment.

The Tim brand, a mobile and landline telephony brand, is also present in Brazil (Tim Brazil) and in the Republic of San Marino (Tim San Marino).

Tim has over 82 million customers, 30,5 million in Italy and 51,6 million in Brazil. It has around 52.000 employees.

The activities of TIM are divided a two business units: domestic business unit and Brazil business unit.

Le Tim Group company I'm:

• FiberCop
• Olivetti
• Kena Mobile
• Telecom Italia Sparkle
• Telsy
• TIMvision
• Noovle Spa
• Tele Payroll Services SpA – TE.SS
• TIM Brasil
• TIM San Marino
• Path. Net
• Telecontact Center
• Telecom Italy Finance 

The TIM Group is listed on the FTSE MIB index of the Italian Stock Exchange.

THEshareholders of Telecom SpA, in September 2021, is composed as follows:

• Vivendi, 23,75%
• Cassa Depositi e Prestiti, 9,81%
• Telecom Italia Group, 1,01%
• Italian institutional investors, 3,57%
• Foreign institutional investors, 41,28%
• Other shareholders 20,58%

Among the major institutional investors there are:

• Canada Pension Plan Investment Board 3,18%
• Novator Capital Ltd. (subsidiary of The Future Holdings Trust), 2,96%
• The Vanguard Group Inc., 1,79%
• Anima Sgr Spa, 1,79%
• Norges Bank Investment Management, 1,04%
• Bank of Italy, 1,00%

Telecom Italia is the seventh Italian economic group by turnover and among the top 500 global groups.

Il turnover in 2020 it was 15,81 billion euros with a net profit of 1,3 billion.

Revenues come mainly from telecommunications services (91,1%), while the remainder comes from the production and sale of office equipment and terminals (8,9% through Olivetti).
Geographically, most of the turnover comes from the Italian market with 81,5% while the remainder comes from the Brazilian market.

The Group has shareholdings in:

• Italtel, 19,37% – waiting to rise to 25% (being formalised)
• Flash Fiber, 80%
• Lose,70%
• Inwit, 37,5%
• Seco SpA, 9,57%
• TV, 4%

Economic and financial analysis of the company

Telecom Italia was established in 1994 following the process of liberalization of the telecommunications sector. The company was born with the deed of merger of SIP, the main Italian telecommunications company, with Iritel, Telespazio, Italcable and SIRM, group company STET.
This merger was part of an industry restructuring plan submitted by the Institute for Industrial Reconstruction (IRI) to the Treasury.

The head office is in Milan while the general management is based in Rome.

In the 1995 is born Telecom Italia Mobile (TIM), 63,01% controlled by STET. In 1997, to maximize future privatisation, it was decided to centralize all activities in a single company; Finanziaria STET and Telecom Italia are merged.

In 1996 the demerger of Seat Yellow Pages by Telecom Italia by transferring 61% of the shares to the company Ottobi Spa for 1.643 billion lire.

On 20 October 1997 the privatization of the company took place. The privatization leads to the almost total exit of the Treasury from the Telecom shareholding. At the conclusion of the OPV (public sale offer), the shares were placed at 10.902 lire.
On October 27, 1997 Telecom Italia was listed on the Milan Stock Exchange.

In February 1999, Olivetti launched a takeover bid, through the Technost by Roberto Colaninno, obtaining control of the company with a 51,02% stake. The Olivetti group, with a turnover from own activities of 1,3 billion and a debt of 16 billion, controlled 51% of the Telecom group, which in 1999 had a turnover of 27,1 billion and a debt of just 8,1 billion. Olivetti was controlled with 22% by Bell, a Luxembourg company.

In 2000 the activities of Tin.it were merged with Seat (which in the meantime had purchased the portal Virgilio.it), bringing the Yellow Pages editor back into the group. Seat Pagine Gialle acquires the television station Telemontecarlo, which in 2001 will be closed and renamed with the brand LA7. The insurance company sells MEIE to Unipol and Sirti to Wiretel. In the same year he sold 67,17% of the shares of Italtel maintaining a 19,37% share.

In 2001, the historic research center was spun off CSEL extension, formerly IRI-STET. Two 100% subsidiaries of Telecom were created: Loquendo SpA and TILab (Telecom Italia Lab).

In 2001, after various negotiations, the new owners of Telecom become i Benetton and Marco Tronchetti Provera, President of Pirelli. The new owners of Telecom Italia paid 4,175 euros per share for the 23% of Olivetti owned by Bell, a much higher figure than the then market price of around 2,25 euros. This operation allowed Tronchetti Provera to take the company mainly into debt, avoiding the launch of a takeover bid.

In July 2001 Telecom was controlled by financial Olympia (60% owned by Pirelli), Edition of Benetton, Banca Intesa and Unicredito Italiano, to which it was later added Hope, Gnutti's financial company from Brescia.

In 2002 it sells Sogei, the company that manages the Tax Registry, to the Ministry of Economy and Finance e Telespazio at Finmeccanica.

In 2003 Telecom Italia buys Hansenet (ADSL in Germany) e AP.Biscom (news agency later renamed APcom) from e.Biscom. The Seat branch of the company, which dealt with the Yellow Pages, is sold. Internet and media activities flow into Telecom Italy Media.

Il August 4, 2003 the merger with Olivetti takes place, which incorporated Telecom Italia. Following the operation, the debts of the controlling shareholders were transferred to the Telecom group. In fact, net borrowing went from 18,1 billion (2002 budget) to 33,3 billion (2003 budget). Most of the foreign subsidiaries were sold and the properties were transferred to the investee funds of Pirelli Real Estate for a value of 2,6 billion. The Telecom Group underwent a considerable downsizing on the international market.

In 2004, the Venezuelan mobile operator sold Digitel to CANTV.

In January 2005 Telecom launched a takeover bid on TIM, of which he already controlled 56%. To achieve the goal, Telecom's debt increased from 29,5 to 46,7 billion euros, or about 150% of turnover. The merger between Telecom Italia and TIM was financed with a loan contracted with a consortium of banks.
Il March 1, 2005 the merger by incorporation of TIM Italia SpA into Telecom Italia SpA takes place. The program envisages the spin-off of the mobile telecommunications business in Italy into a specific company (TIM Italia SpA), wholly owned by Telecom Italia SpA, and of the international mobile telecommunications business into TIM International BV, also wholly owned by Telecom Italia SpA TelecomItalia SpA.

In 2005 he bought the internet activity (Tim.it) by Telecom Italia Media. Acquires Liberty Surf (ADSL in France) and the Tiscali's international fiber optic network. Sells the Finsiel, the largest Italian company in the field of software and IT consultancy, to the COS e Tim Hellas to the funds Apax Partners and Texas Pacific Group.

In September 2006, the board of directors decided to reorganize Telecom Italia and split the group into four sectors:

• Telecom Italia (fixed telephony)
• Telecom Italia Mobile (mobile telephony)
• Telecom Italia Rete (the telephone network)
• Telecom Italia Net (Tin.it, internet and media)

The hypothesis arises of the possibility of selling TIM to settle the debt but the idea did not materialize.

On 15 September 2006, after the announcement of the spin-off of TIM, Marco Tronchetti Provera, in controversy with the Prodi government, resigned from the leadership of the company. He is back president, after nine years, Guido Rossi.

The new management establishes a "control agreement". The pact provided for constraints on the shares conferred, the possibility for the contracting parties to increase their shares and also the possibility of selling in pre-emption to the shareholders. The deal was agreed between the companies that controlled 21,5% of the company: Olimpia, Mediobanca and Generali. Hopa however stayed out of the pact. The pact also envisaged entry opportunities for other shareholders who held more than 0,5% of the Group. This gave more strength to Telecom Italia's shareholders. The entry of new partners could have approached the 30% threshold, beyond which it was mandatory to launch a total offer.

The 15 February 2007, Assicurazioni Generali passed from control of 2,01% to 4,06% of Telecom Italia shares. The control pact between the companies Olimpia, Generali and Mediobanca rose to 23,6%. .

On April 28 one Italian-Spanish consortium composed of Mediobanca, Generali, Intesa Sanpaolo, Sintonia and Telefónica launched an offer to acquire Pirelli's stake in Olimpia, with the simultaneous creation of a vehicle company, called Telco SpA.. The company was born with the aim of controlling about 23% of Telecom Italia. On 24 October 2007, the transition from Olimpia to Telco took place.

In the 2008 is born “Open Access”, a new function to manage all the development and maintenance activities of the access network technological infrastructures, the processes for providing access services for customers. It is being sold Alice France to the transalpine operator Free.

On December 24, 2008 was born the Telecom Italy Foundation.

On 27 October 2009 the shareholders of Telco SpA, with the exception of Sintonia, renewed the control agreement for another three years.

In 2010 he sold his 70% stake in theElectra Tlc, company that deals with the laying and maintenance of submarine cables at France Télécom.

In 2011, he sold his shares in crazy to the US Nuance Communication and of ETECA to the Cuban financial company Rafin SA

In 2012 he sold his share of Matrix at Weather Investments.

During the year 2013 sells the broadcaster LA7 to the publisher Urbano Cairo and 51% in its ownership of the issuer MTV to MTV Networks Europe, a subsidiary of Viacom.

During the Telco management (Telefonica, Mediobanca, Intesa, Generali) there was a reduction in net debt (from 35,7 billion to 26,8 billion) and a drop in turnover (from 31,3 billion to 22,4 billion) .

The June 16 2014 Generali, Mediobanca and Intesa Sanpaolo announce their intention to exit the control agreement relating to the Telco SpA holding, leaving Telefónica a stake of approximately 15% and becoming the sole controlling shareholder of the Telecom Group. The weight of the controlling shareholder was reduced, placing the company more and more towards a public company.

In July 2014 Telephone reduces below 10% its stake in Telecom Italia through the issue of a bond.

On 16 October 2014, it was announced that the company would invest 9 billion euros in the development of network infrastructures over the next three years. Persidera SpA, the Italian national network operator, which operates five digital multiplexes.

In 2015, the procedure for entering the Stock Exchange began Inwit, a company that encompasses and manages Telecom Italia's transmission towers. Become a sponsor partner of Expo2015 Milan. During the year it ceases to be the main provider of services in the public connectivity system (SPC).

Following a rebranding of the Group, the TIM brand becomes the sole commercial brand of the company. Since July 2015, the TIM brand (no longer used as an acronym) has been used for the entire fixed, mobile and internet telephony offer of the Telecom Italia company and the unified TIM site has become operational, which includes offers and assistance for fixed and mobile telephony.

On October 1, 2015, Telecom Italia Media SpA was merged by incorporation into Telecom Italia. In the same month begins the takeover of the French group Vivendi in Telecom: the objective was to rise to a shareholding of 20%.
As of March 2016 Vivendi owns 24,9% shares becoming the largest shareholder.

On January 13, 2016, the new unified TIM logo.

During the year acquires Noverca e sells 51% of Sofora Telecomunicaciones (Telecom Argentina) to the Fintech group.

As of March 2018, Elliott joins Telecom Italia, acquiring an 8,84% stake in the company's shares. Elliott has criticized the company's senior management on deficiencies in administration, stock valuation, and strategic relationships with Italian authorities.

As of April 2018, CDP enters the capital of the company, acquiring 4,26% of TIM.

During the corporate meeting of May 4, 2018, the Elliot fund, supported by CDP, took over the leadership of the Board. The fund won with 49,48% of the vote (equivalent to 10 out of 15 seats on the board of directors), while Vivendi obtained 47,18% of the vote, despite being the largest shareholder.

With the new board of directors consisting of 13 out of 15 independent directors, including the chairman, Telecom Italia has become, as advocated by Elliott, a publicly traded company.

On 18 November 2018 he was nominated Luigi gubitosi new CEO and general manager.

From 2019, Telecom Italia SpA is renamed TIM SpA (also called TIM Group).

In October noverca is merged by incorporation into TIM Spa. From this merger, Keena mobile, mobile operator, becomes a product offered directly by TIM.

In January 2021, TIM launches Noovle, a new group company that focuses on cloud and edge computing. 

TIM is a partner of the Italy pavilion of EXPO2020 Dubai.

TIM has been a sponsor of the Italian football championship since 1998.