Telecom Italia valued its submarine cable business Sparkle at 481 million euros as of Dec. 31, 2023, following an impairment of 107 million booked during the year, according to documents.
Telecom Italia shareholders will vote on April 23 on whether to hand CEO Pietro Labriola a new mandate to press ahead with his plans to revive the debt-laden group by selling its domestic access.
Telecom Italia: TIM expects to finalise the sale this summer, subject to EU antitrust approval, knocking a 14 billion euros off its debts and shifting most of its 37,000 domestic workers on to the network.
MFE-MediaForEurope, the top investor in ProSiebenSat.1, said it was focused on helping to improve the performance of the German group which dented its earnings last year. MFE,.
Telecom Italia would be left with 6.6 billion euros in cash after repaying all of its debts, if it sold its Brazilian unit and its domestic consumer business, activist investor Merlyn Partners.