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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia    TIT   IT0003497168

TELECOM ITALIA (TIT)
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Telecom Italia : appoints general manager Genish as new CEO

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09/30/2017 | 04:12pm CET

Telecom Italia (TIM) has appointed Amos Genish as its new Chief Executive Officer two months after he was named general manager for operations. A former Israeli army captain, Genish previously headed Vivo, the Brazilian unit of Spains Telefonica, a position he took following the merger of Vivo and broadband operator GVT, before being named Vivendis chief convergence officer. The appointment is seen as a further sign of the French media giants influence over TIM, where its the leading shareholder via a 24 percent stake and two-thirds of the companys board.

The operators previous chief executive, Flavio Cattaneo, left at the end of July following clashes with Vivendi and the Italian government over plans to build rural fibre-optic networks in rural areas in competition with the state`s own programme to connect under-served areas. Genish, who is TIMs third CEO in less than two years, will be expected to improve relations with the Italian state even though Vivendi is facing a heavy fine for allegedly failing to notify Rome of its effective control of the operator.

In a statement released after the operators board confirmed Genishs appointment, the companys executive chairman Arnaud de Puyfontaine said: TIM must have a constructive collaboration with the institutions and regulators, adding that creating value for TIM means creating value for the country.

The board also announced that TIMs current deputy chairman Giuseppe Recchi will have organisational responsibility for the operators Security Department, responsible, including key assets such as international operator Sparkle and ICT subsidiary Telsy.

(c) Palestine News Network, 2003 - 2017 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2017 19 734 M
EBIT 2017 4 138 M
Net income 2017 1 532 M
Debt 2017 26 406 M
Yield 2017 0,40%
P/E ratio 2017 10,41
P/E ratio 2018 9,50
EV / Sales 2017 2,09x
EV / Sales 2018 2,03x
Capitalization 14 754 M
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 1,00 €
Spread / Average Target 38%
EPS Revisions
Managers
NameTitle
Amos Genish Chief Executive Officer & Director
Arnaud Nicolas de Puyfontaine Executive Chairman
Piergiorgio Peluso CFO, Head-Administration, Finance & Control
Roberto Mazzilli Head-Information Technology & Security Compliance
Lucia Calvosa Independent Director
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