“The consolidation of the telecommunications market is no longer a dream, with Vodafone and Fastweb the first step has been taken and I am quite optimistic that there will be more steps soon“. The CEO of Tim said this, Pietro Labriola, in the conference call with analysts on the results as of September 30, 2025, which showed a return to profitability in the third quarter and a loss in the nine months reduced to 109 million euros from 509 million in the same period of 2024.
“I have been telling the market for several quarters that, regardless of who will proceed with a market consolidation in Italy, this It will still be a good sign for us“, said the manager. “It could be Tim who handles the situation or another actor. If someone makes the first move and goes ahead, I'll be happy,” he explained.
“We are very supportive of a consolidation of the market – he repeated again in response to other questions on the topic – We will not accept something that weakens us, but we are open to any transaction that makes the market more balanced and rational", highlighting that "any simplification of the structure is positive". "Now we are at the window and we have a clear idea of the scenario, we no longer play poker but chess, we need to understand well the next moves in relation to the various events,” he concluded.
Innovation Manager Schiavo: "We're talking to Nvidia."
"We are in discussions with Nvidia and, as I said, we are evaluating the scale of the effort, but above all the size of the opportunity that we can seize together,” he said Elio Schiavo, TIM's chief enterprise and innovative solutions officer, during the financial conference call, answering an analyst's question. Nvidia recently signed a billion-euro partnership with Deutsche Telekom to create an artificial intelligence factory in Munich.
"Deutsche Telekom," he added, "is clearly a prime example. It's very difficult for them to proceed without having a major telecommunications company on board. And I imagine we're the ones they want to deal with. So we'll try to understand, as I said very pragmatically, what this will mean, and the way we'll measure it is the length, duration, and size of the ROI we can both get from this business."
The manager stressed that the news about the partnership between Deutsche Telekom and Nvidia “confirms that the telecommunications sector has returned to the centre of the innovation process".
“Sometimes we focus too much on something related to real estate or computing power. But computing power is nothing without connectivity,” the CEO recalled, also citing Elon Musk's latest speech, in which the Tesla CEO “explained that he foresees a future in three to five years where computing power will be distributed.” “But what will be needed is low latency, and we have the 5G frequencies, so we are the ones who can provide low latency. We don't own passive fiber, but the latency eventually passes through the electronics installed in the last mile. You need a widespread backbone. And we are the best at this too,” he explained. “It's clear,” he concluded, “that we will continue to be the best in this type of technological future to secure the largest slice of the pie.”
The partnership with Poste Italiane
In addition to the quarterly report, Tim's board of directors, which met yesterday, took note of the management presentation on synergies with Poste Italiane: “Today we are also sharing some updates on the strategic partnership we are developing with Poste Italiane,” said Pietro Labriola.
Speaking of Tim Enterprise, The CEO explained: “We are exploring cost-saving opportunities through joint procurement initiatives.” Finally, “we have signed a letter of intent to establish a joint venture on cloud services, focused on generative AI and open-source technologies. This joint venture will position TIM and Poste Italiane as leaders in the country's digital transformation, further strengthening TIM Enterprise's position as a key player in government initiatives.
For Tim Consumer, “the MVNO contract has been signed and customer migrations will begin in the first quarter of 2026 – said the manager – Tim Energy powered by Poste Italiane is seeing strong initial traction, confirming the cross-selling potential we can exploit together, and further cross-selling initiatives aimed at retail customers and SMEs are currently being evaluated.”
In general, "We are working on further initiatives, they are studying the portfolios of both companies, we will develop them in more detail in the presentation of the next 3-year plan”, he added in another passage, he concluded.
Labriola: "On track to reach the financial year target"
Tim “recorded a solid performance in the third quarter, both in Italy and in Brazil” and “we are on track to reach the goal for the entire financial year,” Labriola said, confirming the forecasts for the full year. Adrian Calaza, TIM's outgoing CFO who was repeatedly thanked and praised by colleagues during the conference call, instead highlighted that the company is “on track to achieve or even exceed our target for the fiscal year of 500 million free cash flow after lease with a leverage of less than 1,9 times”.
"Tim has successfully returned to the capital markets "We are deleveraging debt for the first time since the 2023 bond issues and the network separation in 2024," the CEO then recalled, referring to the €500 million bond issued in the quarter. A bond that "received an exceptional response from investors, with demand six times greater than supply, a clear sign of renewed confidence in the group's solidity."
Open Fiber, Fibercop and Sparkle
Regarding the earn out for Tim that comes from the combination between Open Fiber and Fibercop worth two billion euros, "I remember that this also applies to strategic commercial partnerships that generate synergies. I can understand the question mark over a potential merger, but I'm optimistic that something could happen. Even looking at what's happening in the press, I'm quite optimistic," Pietro Labriola highlighted.
Finally a reference also to Sparkles: “We are moving forward, waiting for the authorizations from the local authorities, two or three are missing,” declared the CEO of TIM, answering analysts' questions. “The closing is expected at the beginning of 2026, not in the last quarter of 2025, but everything is proceeding well,” he added.
