Telecom Italia announces that Stefano De Angelis was appointed yesterday by the Board of Directors of TIM Participações Chief Executive Officer (Diretor Presidente) of TIM Brasil, following the exit from the Group of Rodrigo Abreu due to the expiry of his mandate. Rodrigo Abreu also leaves the position of Director, with Stefano De Angelis being co-opted to the Board.
The Company's best thanks go to Rodrigo Abreu for the high quality of the professional contribution shown during his tenure at the helm of TIM Brasil.
Effective today, May 12, Stefano De Angelis (who will take up his position in Brazil subject to the necessary immigration procedures) leaves his position as Director of the Consumer & SME function of Telecom Italia, which is entrusted ad interim to the Chief Executive Officer of the Telecom Italia Group, Flavio Cattaneo.
Stefano De Angelis currently owns 4.760 Telecom Italia ordinary shares. Rodrigo Abreu declared that he owns 11.310 ordinary shares of TIM Participações.
The company, the second mobile operator in Brazil controlled by Telecom Italia, closed the first three months of 2016 with a sharp decline (-45,4%) in adjusted net income to 144 million reais from 317 million in the first quarter of 2015 Net revenues stopped at 3,85 billion reais, -15,3% year on year, below the expectations of the Bloomberg consensus at 3,98 billion.
In detail, revenues from services fell by 8,3% to 3,62 billion, while mobile revenues improved by 26,3% to 1,32 billion, those from the fixed business grew by 14,3% to 180,85 million and the Arpu, the average revenue per user, showed a +3% confirming the positive trend that began last quarter.
