Telecom Italy will continue along the path of the 2014-2016 industrial plan, which envisages an improvement in margins in both the mobile and fixed domestic business and a series of investments in Brazil, so as to strengthen the position of Tim Brasil. These are the indications contained in the slides illustrated today in London by the managing director, Marco Patuano, during the focus day on the telecommunications and media sector organized by Deutsche Bank.
Therefore, the projects of the Italian company in the South American country do not change, despite the exclusive negotiation of the Spanish Telefonica with Vivendi for the purchase of Gvt (Brazilian subsidiary of the French group) has reduced the growth prospects of Tim Brasil, which in turn aimed at integration with the company of the giant led by Vincent Bolloré.
Patuano also stressed today that Telecom will continue to focus on debt and that merger and acquisition operations will be conducted in compliance with financial discipline.
At the end of the morning, Telecom Italia shares are in slightly negative territory.
