5.28 +0.07 (1.34%)
Pre-Market: 7:54AM EDT
|Bid||0.00 x 1400|
|Ask||5.28 x 1400|
|Day's Range||5.18 - 5.26|
|52 Week Range||4.87 - 7.96|
|Beta (3Y Monthly)||0.34|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.69|
MILAN/MADRID, June 3 (Reuters) - Italy's Ferrero is famous for its red-and-white Kinder chocolate eggs. The confectionery giant, which runs its own gas-fired power plant near its factory in northern Italy, is in early talks to help finance a new clean energy plant, possibly a solar farm in the sunnier south, according to three sources familiar with the matter. Like other companies in Europe, Ferrero is under growing pressure from investors and authorities to shift towards greener energy.
Telecom Italia (TIM) should seek a way to keep control of its fixed-line network if it is merged with smaller infrastructure provider Open Fiber, the former phone monopoly's chief executive said on Tuesday. Italy has been pushing for the creation of a single ultrafast broadband operator through a merger of TIM's network with Open Fiber to avoid duplicating investments. The future of TIM's network has been a bone of contention among the group's biggest investors.
Stock markets gained on Tuesday, with chipmakers and companies exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China's Huawei. In Europe, the broader Euro STOXX 600 climbed 0.6%, extending gains earlier in the trading session, with Germany's DAX rising 1.1%, while France's CAC 40 added 0.6%. At the close, China's Shanghai Composite index was up 1.23%, while the blue-chip CSI300 index ended 1.35% higher.
European shares rose on Tuesday, with tech stocks contributing to gains as they recovered some ground lost in the previous session following a temporary easing of U.S. restrictions on China's Huawei. The Unites States allowed Huawei Technologies to buy U.S.-made goods to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19 after blocking it from buying U.S. goods last week.
European shares regained ground on Tuesday led by the tech sector after the United States temporarily eased restrictions on China's Huawei. The pan-European STOXX 600 index was up 0.4% by 0840 GMT, with the trade-sensitive DAX outperforming after the U.S. Commerce Department said it would allow Huawei Technologies to purchase American-made goods to maintain existing networks and provide software updates to existing handsets.
European shares edged higher on Tuesday after the United States temporarily eased restrictions on China's Huawei, easing trade tensions and lifting tariff-sensitive tech and auto stocks, while the banking sector also gained. The pan-European STOXX 600 index was up 0.4% by 0745 GMT, with the trade-sensitive DAX outperforming after the U.S. Commerce Department said it would allow Huawei Technologies to purchase American-made goods. Auto stocks were around 0.4 percent higher, with Daimler giving an additional boost after German newspaper Handelsblatt reported the company was looking to cut administration costs by 20%.
MILAN (Reuters) - Italy's biggest phone group Telecom Italia (TIM) reported a drop in first-quarter core earnings on Monday as stiffer competition in its main market hit domestic revenues
Vodafone (VOD) and Telecom Italia (TI) intends to unite their 22,000 telecom towers in Italy under a single operation, to reduce debt and enhance productivity.
A deal to merge Vodafone's tower infrastructure in Italy into INWIT, the mast group 60 percent owned by Telecom Italia (TIM), will be signed by the summer, INWIT's Chief Executive Giovanni Ferigo said on Wednesday. The deal is part of a three-year strategy plan ironed out earlier this year by TIM CEO Luigi Gubitosi aimed at reviving Italy’s biggest phone group which is saddled with more than 25 billion euros ($28.34 billion) of debt.
Telecom Italia would be happy to share the cost of securing 5G frequencies with other operators such as France's Iliad in addition to Vodafone, the chief executive of the Italian telecoms incumbent said. 5G frequencies were very expensive ... so it's important to share costs," CEO Luigi Gubitosi said.
FLORENCE, Italy (Reuters) - Merging broadband infrastructure group Open Fiber with the networks of Telecom Italia (TIM) would be positive, TIM's chief executive said on Wednesday.
MILAN (Reuters) - Italy's antitrust regulator said on Monday it had extended a probe into alleged market abuse by Telecom Italia over fiber optic rollout and wholesale pricing to Sept. 30. The competition watchdog said it had granted the extension to give Telecom Italia (TIM) more time to organize its defense. The investigation began almost two years ago after TIM, then headed by former CEO Flavio Cattaneo, announced plans to roll out fast broadband in uneconomic areas before later scrapping them. ...
France's Vivendi said on Monday it was forging ahead with the planned sale of up to 50 percent of its Universal Music Group (UMG), as the iconic division boosted the media conglomerate's quarterly revenue. Vivendi plans to sell the UMG stake, which some analysts have valued at 40 billion euros ($45.2 billion), to maximize the music arm's value and help fund purchases of other businesses. The growing public demand for subscription and ad-based music streaming services, and the recent signing of several major license deals, have put the owners of music rights such as UMG in the spotlight of investors as they compete with streaming platforms such as Spotify.
MILAN (Reuters) - Italian phone group Telecom Italia (TIM) has asked watchdog AGCOM to postpone its review of a plan to spin off its fixed-line network because the scheme will be modified, a source close to matter said on Saturday.
TELUS (TU) makes more than $6 billion spectrum-related investments since 2008 and more than $54 billion in technology across the nation since 2000.
Bell, BCE's (BCE) wholly owned subsidiary, initiates the process to wind down its CDMA network in 2017, and has almost completed it barring a few areas.
Facing defeat in its attempt to change Telecom Italia's board, top shareholder Vivendi took a first step on Friday towards ending a bitter dispute with a U.S. fund that has hobbled Italy's biggest phone group over the past year. Vivendi and activist fund Elliott have been trading blows over how to revive Telecom Italia (TIM), a telecoms heavyweight saddled with more than 25 billion euros ($28 billion) of debt. Vivendi had been seeking to replace TIM Chairman Fulvio Conti and four other Elliott-appointed directors at a shareholder meeting on Friday, citing "substantial lack of independence".
Vivendi gave its support to Elliott-backed Chief Executive Officer Luigi Gubitosi at Telecom Italia’s annual shareholder meeting near Milan on Friday and withdrew a proposal to replace five directors aligned with the hedge fund after it became clear Vivendi would lose the vote. The French media company, which holds almost a quarter of Telecom Italia’s shares, has been fighting to regain the upper hand after Elliott muscled it aside last May with a demand for a more radical restructuring of the company including a spinoff of its fixed-line network.
ROZZANO, Italy (Reuters) - Telecom Italia shareholders on Friday approved top investor Vivendi's offer to withdraw a request to replace some board directors at the Italian phone group.
Zacks Value Trader Highlights: Braskem, Bank of Montreal, Carrefour, Telecom Italia and Geely Auto
Italy is pushing to create a single ultrafast broadband operator by merging Telecom Italia's copper and fibre network with smaller rival Open Fibre to avoid duplicating investments and narrow the digital divide with Europe. Elliott wants TIM to spin off its network and merge it with Open Fibre. Vivendi is not opposed to a merger but insists on TIM keeping control of its biggest asset.
Italy is pushing to create a single ultrafast broadband operator by merging Telecom Italia's copper and fiber network with smaller rival Open Fiber to avoid duplicating investments and narrow the digital divide with Europe. Elliott wants TIM to spin off its network and merge it with Open Fiber. Vivendi is not opposed to a merger but insists on TIM keeping control of its biggest asset.