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Telecom Italia SPA ( (IT:TITR) ) just unveiled an update.
TIM’s board has called shareholders’ ordinary, extraordinary and special meetings for 28 January to vote on a sweeping capital reorganisation that includes the optional and subsequent mandatory conversion of savings shares into ordinary shares, alongside a voluntary reduction of share capital to €6 billion. Holders of savings shares are being offered one ordinary share plus a cash adjustment per savings share, with differing premiums for optional and mandatory conversion, in a move designed to simplify TIM’s capital structure, cut governance and listing costs associated with multiple share classes, and increase the liquidity and free float of ordinary shares. The planned capital reduction, which will create legal and freely distributable reserves, aims to rebalance an equity structure currently dominated by share capital, reflect the reduced scale of the business after the FiberCop sale, and provide resources to fund the conversion-related cash outlays, while withdrawal rights and related conditions for dissenting savings shareholders could influence the final cost and execution of the transaction.
The most recent analyst rating on (IT:TITR) stock is a Hold with a EUR0.58 price target. To see the full list of analyst forecasts on Telecom Italia SPA stock, see the IT:TITR Stock Forecast page.
More about Telecom Italia SPA
Telecom Italia S.p.A. (TIM) is a major Italian telecommunications operator, providing fixed and mobile telecoms, broadband and digital services to retail and business customers in Italy and selected international markets. The group focuses on network infrastructure, connectivity and related services, and has been reshaping its capital and asset structure following disposals such as the sale of FiberCop to strengthen its financial profile and align with market benchmarks.
YTD Price Performance: 98.62%
Average Trading Volume: 25,434,288
Technical Sentiment Signal: Buy
Current Market Cap: €11.11B
For a thorough assessment of TITR stock, go to TipRanks’ Stock Analysis page.