|Bid||0.4548 x 0|
|Ask||0.4735 x 0|
|Day's range||0.4533 - 0.4710|
|52-week range||0.3024 - 0.5092|
|Beta (5Y monthly)||1.45|
|PE ratio (TTM)||1.35|
|Forward dividend & yield||0.01 (2.07%)|
|Ex-dividend date||21 Jun 2021|
|1y target est||N/A|
Italy's telecommunications unions are preparing to call a strike at Telecom Italia (TIM) amid uncertainty over the future of the group caught between its latest boardroom crisis and a proposed takeover by U.S. fund KKR. KKR made a 10.8 billion euro ($12.2 billion) offer for TIM last month, just before a boardroom row forced group CEO Luigi Gubitosi to step down following a clash with top investor Vivendi after two profit warnings since July. Last week, TIM placed oversight of the group's strategic assets in the hands of Chairman Salvatore Rossi, setting up a special committee to study the KKR bid.
A $12 billion takeover proposal for Telecom Italia by private equity giant KKR has highlighted an 'Italian discount', which a surge in investor interest and a European fund aimed at supporting its struggling economy could help narrow. Explanations for this disparity include Italy's index composition, which is heavy in "old economy" energy and banking stocks with nearly two-thirds of Italian blue chips made up of financial firms, utilities, telecom, oil and gas companies, while only around 20% of the 50 largest companies in the euro zone operate in those sectors. But above all, two decades of near-zero economic growth, an ageing population and Italy's high debt levels have dragged down equity prices in the country.
(Bloomberg) -- Telecom Italia SpA Chief Executive Officer Luigi Gubitosi resigned on Friday, less than a week after private equity firm KKR & Co. made a preliminary 10.8 billion-euro ($12.2 billion) bid for the former Italian phone monopoly.Most Read from BloombergChina Cash Flowed Through Congo Bank to Former President’s CroniesBillionaire Family Feud Puts a Century-Old Business Empire in JeopardyAn Arab City’s Booming Art Scene Is Also a Grab at Soft PowerThe company’s directors, meeting Frida