After mkt hours announced Q1results: revs Euro 4.48 bn, EBITDA Euro 1.8 bn, Net profit Euro 55 mn, NFP Euro (27.27 bn).
Company announced that the target of cost reduction in Italy over the 2015-2018 period was increased from Euro 0.6 bn (which EUR 0.4Bn opex and EUR 0.2Bn capex) to EUR 1.6Bn (of which EUR 0.8Bn opex and EUR 0.8Bn capex). Previous target of a domestic EBITDA stabilisation at organic level in 2016 was confirmed. 2018 coverage targets were confirmed for both NGN (from 45% to ~84% - further coverage subject to Public policy) and LTE (from 92% to 98%).
Il Sole reports that talks to buy Metroweb in exchange for a stake in TI Sparkle will not likely succeed. Suggested that TI could now sell a minority stake of TI Sparkle on the mkt. Article adds that the current situation of Tim Brazil makes it more difficult to sell and the objective is to make the unit more efficient to sell at a later date