Telecom Italia : Two new factors: Xavier Niel and Italian elections
>FdI’s victory favours a scenario of a disposal of NetCo - Telecom Italia’s board is supposed to receive a non-binding offer for an acquisition of its NetCo network in the coming days then a binding offer in October or November. According to the press, the offer is likely to be in the region of € 17-20bn (ODDO BHF: € 17bn in our scenario based on 8.6x EBITDAaL 2022e) whereas Vivendi is asking for more than € 30bn (high multiple of 15x, probably calculated by factoring...Telecom Italia is a telecommunications group based in Italy. Co. is engaged in the communications sector and, particularly, the fixed and mobile national and international telecommunications sector, the television sector and the office products sector. Co. operates mainly in Europe, South America and the Mediterranean Basin. Co.'s operations are organized along two operating segments: Domestic - Italy (providing telephone and data services on fixed-line and mobile networks for final customers (retail) and other operators (wholesale)); and Brazil (operates in the mobile phone, fixed telephony, in long-distance and data transmission markets in Brazil).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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