A return to origins, at least in name. Tim’s CEO, Peter Wheatgrasswould like to call Telecom Italy the new company that will bring together the fixed network infrastructure assets, once separated from the other services of the telecommunications giant, which will merge into ServiceCo. “I wish I could call ours netco: Telecom Italia”, stated the CEO.
Tim will remain a single company throughout 2023
The asset separation plan “is moving forward, but Labriola assures that”throughout 2023 Tim will still be a single company and therefore, together, we must all row in the same direction”. Tim, after raised the guidance in August on the occasion of the half-yearly report, it is “respecting its objectives” for 2022 and probably, with the new plan, it will improve the targets for the next two years, announced Labriola, during the meeting with the president Salvatore Rossi and the other managers of the group, gathered face-to-face in the offices of Rome, Bologna, Milan and Naples.
“If in addition to achieving the results of 2022 – added the top manager – we also achieve those of 2023, then it will be the first time in 12 years that our company also respects – the objectives, ed. – of the second year”. Tim is “an industrially healthy company”, which is working “to definitively solve a problem called debt“, emphasized Labriola.
Labriola: Tim is more solid than they see it from abroad, the numbers prove it
The “operational and financial” trends are improving, the manager reiterated, emphasizing how it is necessary to “believe in our ability to make things happen. There are enormous opportunities that we can exploit”, especially now that the rate of transition of customers to other telephone operators, the so-called churn rate, is “close to historic lows” and that retail revenues are “starting to rise”. “The performance indicators are improving quarter after quarter: we don’t have to look at what is being said outside, our only words are the results” explained the CEO.
At a time of such high volatility, “predicting the future has become prohibitively expensive,” even less so for those working on the front lines to bring about “technological change, like Tim,” he said Savior Reds. “Ours” is a company “at the frontier of technology and progress” and the people who are part of the group must feel responsible and proud of what they do. Only “in this way could we dispose of the legacy of the past” and let “the new prevail over the old”, concluded Rossi.
Councilor Cadoret resigns
In the evening Tim communicated that the councilor Frank Cadoret (who had been appointed by Vivendi, Tim’s relative majority shareholder with 24%) resigned from the post. President Rossi, “interpreting the thinking of the whole board of directors”, thanked Cadoret for the contribution he has made to the company in recent years. Frank Cadoret is found to own 13,000 shares of Tim common stock. (All rights reserved)
Tim, Labriola thinks of Telecom Italia as the name of the new Netco of the single network – MilanoFinanza.it