Monday, 26 June 2017

Telecom Italia share conversion to dilute Vivendi, Niel stakes

By Mary Lennighan, Total Telecom
Friday 06 November 15

Italian incumbent posts small revenue, earnings declines in first nine months, but CEO upbeat on progress.

Telecom Italia on Thursday proposed undertaking a savings shares conversion, a move that would reduce the stakes of major shareholder Vivendi and newly arrived owner Xavier Niel. The announcement came just ahead of the publication of the Italian incumbent's financial results for the first nine months of the year, which showed small declines in revenue and earnings. The telco's share proposal includes a voluntary conversion…

Telecom Italia on Thursday proposed undertaking a savings shares conversion, a move that would reduce the stakes of major shareholder Vivendi and newly arrived owner Xavier Niel. The announcement came just ahead of the publication of the Italian incumbent's financial results for the first nine months of the year, which showed small declines in revenue and earnings. The telco's share proposal includes a voluntary conversion…

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