Friday, February 25, 2011
Telecom Italia Returns to Growth
Telecom Italia said that its revenues rose 0.8% year-on-year on a like-for-like basis in the fourth quarter of 2010 to 7.67 billion euros, after falling 4.4% in the third quarter, 5.3% in the second quarter and 4.9% in the first quarter.
Franco Bernabè, CEO of Telecom Italia, said: "Today, thanks to greater competitiveness in the domestic market and the larger presence in Latin America – further consolidated through a 2.1% increase in Telecom Argentina’s economic interest – Telecom Italia is a more solid group, that can look to the future confidently."
In 2011, the Milan-based group said that it is aiming to keep revenues broadly stable and spend 4.8 billion euros on capex, compared with 4.58 billion euors in 2010. source: Telecom Italia statements
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