Rome, Aug 2 (EFECOM).- The Italian telecommunications group TIM (Telecom Italia) earned 7.2 billion euros in the first half, 2.3% more than in the same period of 2022, after registering its first period of growth in five years, the company reported today after the stock markets closed.
The gross operating result (ebitda) was 3,100 million, which represents an increase of 4.7% that the group celebrated as “fully in line with the objectives for 2023”.
The council also highlighted Tim Brasil’s “strong revenue growth” of 9.2% year-on-year without giving further details of its results.
He also recalled that he continues to work to “obtain a binding offer” from the US fund KKR before September 30.
Last June, Tim accepted the offer of the US investment fund KKR to take over its fixed network, which according to the economic press has valued that network at around 23,000 million euros and intends to integrate it “into a soon-to-be-created company” called NetCo.
The decision led to the rejection of the offer launched by the consortium formed between Cassa Depositi e Prestiti (CDP) -whose main shareholder is the Ministry of Economy- and Macquarie, whom the Telecom board “thanked for their interest”.
The group’s net debt stood at 26,000 million as of June 30, 2023, almost one billion more than at the end of 2022.
According to several leaks, in order to reduce its debt, the Italian group is also considering selling a minority stake in its business division, Tim Enterprise, although there is no official confirmation on the matter. EFECOM
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