TIM CEO eyes €5 billion benefits from new business plan

The CEO of Telecom Italia (TIM) said in an interview on Thursday he sees potential additional benefits of almost 5 billion euros ($5.37 billion) from a new business plan, adding they could in part be used for dividends and actions to accelerate growth.

Speaking to Italian daily Il Messaggero, Pietro Labriola also said there were several possible outcomes for ongoing talks for the sale of TIM’s Sparkle unit, which could be concluded shortly.

Labriola said he believes there is no reason to believe that Telecom Italia’s plan to sell its fixed network grid to US fund KKR – the centerpiece of his business strategy – will not be closed in the foreseen timeframe. Reuters