Telecom Italia

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Telecom Italia SpA
Type SpA
Traded as BITTIT, NYSETI
Industry Telecommunications
Founded 1994
Headquarters Rome, Italy
Key people Giuseppe Recchi (Chairman)
Marco Patuano (CEO)
Products Landline, Mobile services, DSL services
Revenue € 38,3 billion (end 2013)[1]
Operating income € 2.718 billion (end 2013)[1]
Total assets € 70.22 billion (end 2013)[1]
Total equity € 20.19 billion (end 2013)[1]
Employees 65,623 (end 2013)[1]
Subsidiaries TIM, TIM Brasil, Telecom Italia San Marino, Telecom Italia Media (67%), Olivetti, Telecom Italia Sparkle
Website telecomitalia.com

Telecom Italia is an Italian telecommunications company which provides landline services, mobile services, and DSL data services. It was founded in 1994 in a merger of several state-owned telecommunications companies, the most important of which was Società Italiana per L'Esercizio Telefonico p.A., known as S.I.P., from the initials of the earlier Società Idroelettrica Piemontese, the former state monopoly telephone operator in Italy. The companies stock is traded in the Borsa Italiana.

Telecom Italia, TIM, TIM Brasil, Olivetti, Telecom Italia Sparkle are the main brands of Telecom Italia Group.

History[edit]

2000s[edit]

In 2001 the company had a lot of debts.[2] In 2001 the company was bought by Marco Tronchetti Provera.[3]

In 2002, Telecom Italia released its DSL Flat service in Italy: Alice ADSL, with a download speed of 32 kbit/s and an upload speed of 8 kbit/s for 40 €/month plus a monthly based tax of 14,57 €, the "Canone Telecom", besides the mandatory monthly bills for the home telephone numbers (without a home telephone number you couldn't get the ADSL service).[4]

Telecom Italia Media, born in 2003 from Seat Pagine Gialle, focused its business on television sector with La7 and MTV channels.[5]

Telecom Italia had bigger debts in 2005,[6] it acquired Tin.it and Virgilio from Telecom Italia Media, the multimedia company of the Group.[7] In 2005 CEO Tronchetti Provera resigns.[6]

In 2007 the company was bought by “Telco” (Telco is composed by Telefónica and several Italian banks).[3]

Environmental commitment[edit]

In 2002 Telecom Italia subscribed to the United Nation corporate responsibility initiative Global Compact.[8] The company continues to promote a sustainability strategy that includes environmental and social issues. The company is a member of a number of stock market indexes which include companies focused on corporate social responsibility, including the Dow Jones Sustainability Indexes and those administered by FTSE Group's FTSE4Good. Its part-owned Brazilian subsidiary TIM Participações is listed in the Bovespa's ISE (Índice de Sustentabilidade Empresarial) index.[8]

2010s[edit]

The shareholders’ meeting of 12 April 2011 appointed these directors:[9] Franco Bernabè, Aldo Minucci, Marco Patuano, Lucia Calvosa, Jean-Paul Fitoussi, Renato Pagliaro, Luigi Zingales, Gaetano Miccichè, Mauro Sentinelli, Gabriele Galateri di Genola, Massimo Egidi, Elio Cosimo Catania,Tarak Ben Ammar, Izuel Cesareo Alierta, Julio Esteban Linares Lopez.

At 31 December 2012 Telecom Italia Group reached revenues for 29,503 million euro, 11,645 million euro of EBITDA, 1,627 million euro of loss and had capital expenditures for 5,196 million euro. The net financial debt was 28,274 million euros.

Telefónica currently owns 46% of Telco, the holding company that controls 22% of Telecom Italia, Italy's former government–owned telephone company. In late 2013, Telefónica announced its intention to acquire the entirety of Telco by January 2014, potentially becoming Telecom Italia's largest shareholder. The plan, however, is being challenged by the Brazilian competition authority since Telefónica and Telecom Italia, with Vivo and TIM respectively, are the two largest telephone companies competing in Brazil.

Telecom Italia Shareholders' Meeting of 16 April 2014, recording the presence of 56.04% of the Company's ordinary share capital, appointed the new Board of Directors, who will remain in office until approval of the financial statements at 31 December 2016. 3 Directors were appointed based on the slate submitted by a group of savings management companies and international institutional investors, which obtained the highest number of votes (Lucia Calvosa, Davide Benello, Francesca Cornelli), another 3 were elected from the Telco S.p.A slate, which was second for number of votes (Giuseppe Recchi, Marco Patuano, Baroness Denise Kingsmill CBE). The other Directors (Flavio Cattaneo, Giorgina Gallo, Tarak Ben Ammar, Laura Cioli, Giorgio Valerio, Jean Paul Fitoussi, Luca Marzotto) proposed by the shareholder Telco S.p.A, were elected by the majority vote of the Shareholders' Meeting.[10]

Operations[edit]

The company operates landline telephone services in Italy, GSM mobile phone services in Italy and Brazil through its TIM subsidiary, and DSL internet and telephony services in Italy and San Marino.

Telecom Italia operates in international professional telecommunication services for other operators or corporations through TI Sparkle. In 2013, the total amount of the company's debt is about 26 billions €.[11] Telecom Italia controls Olivetti, a manufacturer of computer peripherals and mobile phones. Italian people had to mandatory pay the "Canone Telecom" since 1994 till the 2000s, a monthly based tax of 14,57 €, besides the monthly bills for the home telephone numbers.[4]

Telecom Italia provides phone landline services and mobile services in Italy. Updated to 31 March 2014, Telecom Italia leads both the direct fixed access lines market with 62,0% and the mobile “postpaid” segment with 45% of market share. In the mobile “prepaid” segment Telecom Italia owns 31,5% of market share together with Vodafone.[12] Telecom Italia has 65,623 employees.


See also[edit]

References[edit]

External links[edit]