0.45% Jones) - Telecom Italia SpA (TIT.MI) will continue its efforts to reduce debt and will begin to consider new strategies until late next year, said Friday the chief of the telecommunications operator Italian.
"The idea is to continue to reduce debt," said Franco Bernabe at a press conference following the announcement of annual results of the group and its strategy for the next three years.
Under plan 2011-2013, Telecom Italia plans to increase its dividend by 15% per year and strengthen its focus on Latin America, while striving to maintain its margins in Italy.
-Sabrina Cohen, Dow Jones Newswires
(END) Dow Jones Newswires
TELECOM ITALIA IS GOING TO FOCUS ON LATIN AMERICA
The group added that it plans to invest about 4.8 billion euros 2011.
Telecom Italia will hold a conference call at 10:00 am to present the program.
-Sabrina Cohen and Giada Zampano, Dow Jones Newswires
(French version Aurélie Henry)
(END) Dow Jones Newswires
February 25, 2011 3:05 ET (8:05 GMT)
Telecom Italia will distribute a dividend of 5.8 cents per share for fiscal 2010, against 5 cents a year earlier.
The Italian operator has been trying for several months to deploy more widely in the lucrative South American market as it faces a slowdown in demand on the Italian domestic market more mature. Telecom Italia has posted a net profit in 2010 rose by 98% to 3.12 billion euros, against 1.58 billion euros a year earlier.
Analysts expected a net profit of 2.53 billion euros.
sales rose 2.5% to 27.6 billion euros over the period, but sales in Italy fell by 7.4%.
Telecom Italia shows a slightly reduced debt in late December, to 32.1 billion euros, against 33 billion euros at the end of September.
-Giada Zampano, Dow Jones Newswires
(Jerome Batteau French Version)
(END) Dow Jones Newswires February
24, 2011 3:36 p.m. ET (20:36 GMT)