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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 CEST

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

Stocks mentioned in the article
ChangeLast1st jan.
TELECOM ITALIA -0.66% 0.602 End-of-day quote.-15.89%
VIVENDI -1.27% 20.94 Real-time Quote.-6.60%
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Financials (€)
Sales 2018 19 442 M
EBIT 2018 3 977 M
Net income 2018 1 537 M
Debt 2018 25 416 M
Yield 2018 1,10%
P/E ratio 2018 8,70
P/E ratio 2019 7,81
EV / Sales 2018 1,94x
EV / Sales 2019 1,88x
Capitalization 12 370 M
Chart TELECOM ITALIA
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Telecom Italia Technical Analysis Chart | TIT | IT0003497168 | 4-Traders
Technical analysis trends TELECOM ITALIA
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 0,91 €
Spread / Average Target 50%
EPS Revisions
Managers
NameTitle
Amos Genish Chief Executive Officer & Director
Fulvio Conti Chairman
Piergiorgio Peluso CFO, Head-Administration, Finance & Control
Roberto Mazzilli Head-Information Technology & Security Compliance
Elisabetta Romano Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TELECOM ITALIA-15.89%14 496
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NIPPON TELEGRAPH AND TELEPHONE CORP-5.16%96 537
DEUTSCHE TELEKOM-7.10%76 885
SAUDI TELECOM COMPANY SJSC--.--%46 719
TELEFONICA-8.87%45 004