Spotlight on Tim; win-win solutions for Inwit and Fibercop reduce uncertainty surrounding infrastructure projects
Meanwhile, the integration plan with Poste is moving forward, which may also facilitate the gradual enhancement of both organisations’ technological capabilities
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(Il Sole 24 Ore Radiocor)- Telecom Italia is in the spotlight on the Milan Stock Exchange. After a strong start and a very brief dip, the share price is now trading with a cautious upward trend. CEO Pietro Labriola held a conference call yesterday to present the nine-month results (released on Tuesday evening), which showed revenues rising to 10.4 billion (+2.8%) and EBITDA after lease at 2.8 billion (+2.3%) on an organic basis, confirming the financial guidance for 2026. Furthermore, the telecoms company has launched a joint venture with Fincantieri and Poste Italiane have entered into a strategic partnership aimed at creating the first comprehensive national supply chain for Physical Ai (Industrial Artificial Intelligence).
Intermonte’s analysts highlight the key points that emerged from yesterday’s conference call: ‘The messages were, on the whole, consistent with management’s previous guidance. The openness to win-win solutions regarding Inwit and FiberCop, which could reduce uncertainty surrounding key infrastructure projects”.
Tim has, in fact, formally reopened discussions with Inwit regarding the MSA (Master Service Agreement), the long-term framework agreement governing the lease and management of mobile telecommunications masts; and ‘favours a bilateral solution’. The proposal is now on the table at Inwit and, in the absence of an agreement, TIM nevertheless has an alternative plan to proceed independently.
Another matter concerns FiberCop: discussions are currently underway “with the aim of resolving the main operational and pricing issues by the end of the year. The main sticking point remains the roll-out of the fibre network and the quality of service; regarding pricing, the agreement signed at the time of the network’s sale remains the benchmark, with discussions continuing in good faith.”
On a strictly corporate level, Labriola confirmed that the closing of the sale of Sparkle will take place by the end of the year, “with the transaction now in its final stages and essentially awaiting the final regulatory approval”, the brokers note; whilst with regard to Tim Brasil, Intermonte highlights that it is “historically a strategic and cash-generating asset for Tim, thanks to its geographical diversification, the different maturity of the Brazilian market and its strong cash generation. Within the new structure of the Poste Group, however, it will be the controlling shareholder who assesses its strategic importance’.
