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Broadband

Telecom Italia relegates BBned to 'other', still no buyer

Wednesday 14 April 2010 | 13:12 CET | Author: Tim Poulus | Market Commentary
Telecom Italia has presented its strategic plan for 2010-12, alongisde its annual results for 2009. The results were delayed due to the ongoing investigation into alleged fraud at the operator's unit Sparkle. Telecoma Italia forecast revenues in 2010 down 2-3 percent, but the company expects to achieve average growth of 1 percent per year across the period 2010-12. The group targets a reduction in net debt to less than EUR 28 billion, to reach a net debt/EBITDA ratio of 2.5-3.0 times. The operator plans to cut costs by EUR 2.7 billion over the period and reduce its capex budget by around 20

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Categories: Fixed
Companies: BBned / Tele2 Netherlands / Telecom Italia / Telefonica- Movistar
Countries: Netherlands
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