Title Telecom Italia on the roller coaster in Piazza Affari with investors who are already starting to think about the board of directors scheduled for Monday 24 September. After opening 0,4% down, the stock reversed course to climb 0,2%. At 12.24 the shares travel at -0,14%.
Many dossiers on the table of the board which will however be preceded, on Friday 21, by a strategic council composed of the CEO, Amos Genish, the president Fulvio Conti, Arnaud de Puyfontaine of Vivendi and the directors Massimo Ferrari, Rocco Sabelli and Luigi Gubitosi. The group announced Thursday aagreement between the subsidiary Inwit and Open Fiber on ultra-broadband, the first on the new super-fast network. And it was seen as a first but significant sign of a thaw in the match on the single network between Tim, Enel and Cdp. A dossier on which
Returning to the Board of Directors, I am not alone at the center of the meeting business performance and strategic plan, but also the performance of the title, which has been in deep difficulty for months (despite an attempt to recover in recent weeks) which has become, among other things, the subject of a tough battle between the two "bitter enemies" Elliott and Vivendi. An attempt at mediation with the government also seems to have been entrusted to Franco Bernabè, due to his good relations with Davide Casaleggio.
On Monday we will then talk about the transfers of Persidera and Sparkle, of the results of the 5G auctions – which on 19 September had already reached 3,8 billion – of the possible valorisation of Inwit, but also of the new Nextel lot.
For Inwit, According to Il Sole 24 Ore , the board could consider reducing Tim's stake in the company, putting an additional 20% of the free float on the market and thus dropping from 60 to 40%. An operation which, among other things, would bring about 800 million in cash, useful for meeting the higher expenses deriving from the 5G auction, which could cost the telecommunications company very dearly: over 1,3 billion euros.
In fact, rumors of the last few hours tell that Tim would be interested in acquiring Nextel Brazil, a wireless communication services company put up for sale by NII Holding, which controls 70% of the capital. The offers will be presented by the end of September and the three main Brazilian operators could be among the eligible buyers: Tim Brasil, Telefonica do Brasil and America Movil.
He would even be dealing with the matter Amos Genish himself, who knows the Brazilian telecommunications market very well, having founded Gvt in the country, the company sold years ago by Vivendi to Telefonica. Nextel is valued at around one billion euros.
"In our opinion, the operation would be financially sustainable for Tim Brasil, which currently has around 800 million in debt and 1,5 billion in ebitda", commented the Equita analysts who ruled out a capital increase involving Telecom itself.
