No surprises in Q3 (except for a goodwill write-down of €2bn). The group still has an attractive strategic plan for the coming years. Although domestic service revenues are expected to remain broadly stable over the life of the plan, domestic’s EBITDA should, however, slightly grow. We maintain our Buy on the stock which is still, however, a proxy of the Italian flag and whose governance is a real mess with a useless and unnecessary fight between Bolloré and Elliott.
09 Nov 2018
Not suffering so much from the entry of Iliad on mobile
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Not suffering so much from the entry of Iliad on mobile
Telecom Italia S.p.A. (TIT:WBO) | 0 0 0.6% | Mkt Cap: 14,111m
- Published:
09 Nov 2018 -
Author:
Jean-Michel Salvador -
Pages:
3
No surprises in Q3 (except for a goodwill write-down of €2bn). The group still has an attractive strategic plan for the coming years. Although domestic service revenues are expected to remain broadly stable over the life of the plan, domestic’s EBITDA should, however, slightly grow. We maintain our Buy on the stock which is still, however, a proxy of the Italian flag and whose governance is a real mess with a useless and unnecessary fight between Bolloré and Elliott.