Tim's CEO Pietro Labriola
Labriola: “The sale of the network in July”. Then comes the risk of telecommunications
With the preliminary results marking a turning point for Tim, the CEO, Labriola, addressed a conference call with analysts yesterday showing great confidence in the company's future. With the agreement practically signed with the US fund KKR, the Italian Treasury and the F2i fund, and the prospect of the sale of the fixed network, Labriola underlined that this is the last call as a unified company.
Labriola reassured investors on the timing of the sale of the fixed network, estimating that the operation will be completed by June or July thanks to a binding contract with KKR. The next crucial step is the approval of the European regulator on the concentration in the telecommunications market, which Labriola believes can be achieved without major hitches. Once Tim's restructuring is completed, Labriola indicated that the company will be able to focus on shareholder remuneration and actively participate in the telecommunications market. He highlighted Tim's potential involvement in industry consolidation, expressing preference for a merger between Vodafone and Iliad to reduce the number of mobile operators on the market.
On the dividend front, Tim's chief financial officer, Adrian Calaza, said the company will begin considering dividend distribution once the Netco deal is completed. Tim's board also discussed the prospects of Sparkle, the intercontinental cable company, examining an offer from the MEF to acquire it completely or retain a minority stake. Tim is now preparing for two key events: the presentation of the 2024-2026 industrial plan on March 7 and the shareholders' meeting on April 23, during which the renewal of the board of directors will be discussed and the appointments of Labriola's successors and president Salvatore Rossi.
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