TIM's stock plunged over 9% on the
Milan stock market on quarterly results Thursday.
TIM dropped 9.14% to 22.28 cents in the aftermath of the
company's better-than-estimated quarterly earnings report, which
nevertheless came in at EUR400 million, compared to EUR689
million in the first quarter of 2023.
The EU's go-ahead for US fund KKR's acquisition of the fixed
network is expected today.
Among the figures disappointing analysts were revenues of EUR
3.93 billion, against the expected EUR 3.96 billion, and EBITDA
of EUR 1.5 billion, EUR 200 million below the estimates compiled
by Bloomberg Agency.
On 21 May, the first hearing in the appeal filed by Vivendi, the
group's largest shareholder with 23.75%, on the sale of the
network to KKR was held in the Court of Milan.
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is
an American global investment company that manages multiple
alternative asset classes.
photo: TIM President Alberta Figari
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