May 24, 2022

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Telecom Italia TIM collapsed (-14%) after 2021 financials

Black Thursday for Telecom Italia TIMAfter publishing the results of the fiscal year 2021. The phone group share lost 14% to 0.2956 euros, after fluctuating between a minimum of 0.2877 euros and a maximum of 0.3154 euros. Trading volumes are high: about 606 million shares were traded during the entire session.

Telecom Italia TIM ended 2021 with revenue on an organic basis and gross contracted operating margin. The year ended with a loss after some unusual items. Debt fell sharply. The senior management of Telecom Italia TIM suggested No dividends for 2022 (related to fiscal year 2021).

During the examination of the financial results for the financial year 2021, the Board of Directors of Telecom Italia TIM approved Industrial plan for the three-year period 2022-2024, first presented by the new CEO, Pietro Labriola. The Director himself was authorized to prepare the executive project for the reorganization of the group, which will be presented to the market immediately after approval by the Board of Directors on the occasion of the Telecom Italia TIM Financial Market Day during the six-month period.

Furthermore, Telecom Italia TIM announced that it has received from a group of institutional investors led by Ardian aA binding offer to purchase a majority stake in Daphne 3 . Holding Companywhich owns 30.2% of the capital inside (-0.04% to 9,034 euros). The proposed transaction is structured in such a way that it does not give rise to any obligation to submit a takeover offer.

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