Telecom Italia said last week that its organic revenues fell almost 4% year-on-year to 13.95 billion euros in the first half of 2009. Revenues in its Italian mobile unit fell 7% as sales of handsets and valued-added content declined, SMS usage dropped and regulation forced down interconnection tariffs. However, TI's Brazilian unit posted a 2% increase in revenues thanks to a 12% rise in subscribers.
Capex during the first half of 2009 was 2.04 billion euros, down 913 million euros compared with the same period in 2008. Telecom Italia reaffirmed its previous guidance for 2009. source: TI statement
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