“Our dividend policy is absolutely sustainable to ensure consistency with plans and with external conditions”. As Franco Bernabè, executive chairman of Telecom Italia, during the conference call for the presentation of the accounts, explained that the group he heads will not need to turn to the capital market until 2014, despite renewed fears about the Eurozone crisis, which have provoked a new market deterioration.
“The company has good liquidity and has the operational financial profile to continue pursuing the objectives for the year”, concluded Bernabè. The president of Telecom Italia also spoke on the issue of SIM sales in Brazil. “In Brazil we are finalizing the new course of action and believe the suspension will be lifted very quickly. I myself have had a personal and open dialogue with the Brazilian authorities because for us it is a very important issue", said Bernabè, believing that Anatel, the Brazilian TLC Authority, could shortly order the revocation of the suspension of the sales of new sim cards in 18 Brazilian states and in the Federal District of Brasilia, ordered on 18 July.
“Brazil's potential – said Bernabè – remains strong and the country continues to be a precious boost for our group”. As regards the issue of assets, the number one of the telecommunications group explained that the process for the sale of Telecom Italia Media's assets "is underway and we believe we can close within the year".
