Telecom extends: maxi dividend coming? Here are the news


Telecom extends: maxi dividend coming?  Here are the news
Written by aquitodovale

In Piazza Affari, today’s session continues to rise sharply for Telecom Italia, which today is gaining ground for the fourth day in a row.

Telecom Italia up for the fourth session in a row

After having closed last Friday’s session with a progress of about three-quarters of a point, the title today showed some uncertainty in the opening bars, and then took the path of gains and progressively lengthened the pace.

In the last few minutes, Telecom Italia has reached 0.2652 euros, with an increase of 2.43% and over 79.5 million shares changed hands so far, against the average of about 90 million in the last 30 days.

Telecom beats the Ftse Mib

The stock scores the second best performance in the blue blue chip basket and rises in sharp contrast to the Ftse Mib.

Telecom Italia is on compressed valuations and so today it amplifies the recovery that the reference index has made from the intraday lows.

Telecom: Fitch sees no immediate impact on the plan rating

The shares of the telephone group continue to attract the attention of the market in the wake of various themes.

Last Friday, with the markets closed, Fitch released a note in which it highlighted that it did not expect any imminent impact on Telecom Italia’s rating from the plan presented last week.

The analysts explained that after Capital Markets Day all strategic options remain open, highlighting that a reduction in group debt can take place through two ways: through the divestment of network assets and through the sale of the enterprise division.

Fitch has made it known that it will continue to evaluate Telecom Italia on its consolidated profile until there is full visibility on the change of ownership and structure.

Telecom Italia: working on network separation

Meanwhile, attention remains high on the work that the CEO of Telecom Italia will have to carry out, called to deal with various issues on several fronts.

The first challenge is that relating to the farewell to the vertical integration model, with the consequent division between NetCo and ServCo.

As written by Il Sole 24 Ore, NetCo “is the network with Fibercop in addition to Sparkle”, while ServCo is made up of Tim Consumer, Tim Enterprise, which includes cloud, cybersecurity and IoT and Tim Brasil.

The separation of the network now appears to be the priority for the former Italian monopolist, because only in this way will it be possible to overcome its dimension as a vertically integrated operator.

Telecom: remains evaluation node for network spin-off

A step that is far from easy, given that the crux of the separation of the ret is largely played on the evaluation of the infrastructure, which is the subject of conflict between the parties.

The first shareholder of Telecom Italia, the French group Vivendi, is aiming for 31 billion euros for NetCo, but this is a very different value from that indicated by Cassa Depositi e Prestiti, which stops at around 20 billion euros.

Il Sole 24 Ore on Saturday, speaking of the single network project, did not exclude the possibility of a compromise on the valuation of NetCo around 25-26 billion euros.

Telecom Italia: possible maxi extraordinary dividend

The Confindustria newspaper also hinted at the possibility of a jumbo dividend of Telecom Italia, starting however from a NetCo valuation of around 31 billion euros.

Net of the minority stake of KKR, equal to 4 billion euros, and adding the income from the sale of EnterpriseCo, equal to 5 billion euros, according to Sol24 Ore, an extraordinary dividend of 16-17 billion euros could be paid .

The coupon would be in the order of € 0.7-0.8 per share and it would be accompanied by a reduction in net debt below € 4-5 billion compared to the current 20 billion.

Il Sole 24 Ore, however, specifies that in order to pay the maxi dividend it would be necessary for the stock to be appreciated and not a little in Piazza Affari, considering that it continues to travel close to historical lows.

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