Tim in the spotlight, for Kepler "plan objectives more credible"

(Il Sole 24 Ore Radiocor) - Telecom Italia is being bought at Piazza Affari, where the shares of the telecommunications group are among the best on the main list. The prices, the trading rooms explain, are supported by the opinion of the analysts at Kepler Cheuvreux, who have raised the target price to 0.5 euros from the previous 0.39, underlining that "the company continues to record solid results, making the objectives of the new industrial plan more credible and an investment in the shares more attractive".

The first quarter results, the experts add, were " in line with expectations " and consequently did not cause changes to the estimates, but "a series of qualitative factors point to an upside or at least increase visibility". Among the "recent positive developments" the analysts cite the fact that Tim could "receive the proceeds from the sale of Sparkle and the reimbursement of the 1998 license fee earlier than expected", adding that "earn-outs are becoming more likely, based on comments from the company and other shareholders, improving the prospects for shareholder remuneration and value creation".

Vivendi's exit from the shareholding with the simultaneous entry of Poste , moreover, "removes the risk" of selling large blocks of shares on the market, "improves corporate governance (after many years all shareholders are aligned) and increases the probability of an agreement between Open Fiber and FiberCop, as well as a conversion of savings shares (which Vivendi opposed). Finally, Kepler sees today "a greater probability of market consolidation, facilitated by Poste Italiane with Tim that could assume an active role". According to rumors, in the meantime, Tim is evaluating the integration of its corporate purpose to include the offer of insurance services, digital payments and energy, which in perspective will have an increasing role in the company's business. The topic will be examined by the board of directors on May 23. Tim already offers insurance services with Tim Mybroker and energy resale to SMEs, but in the future it should expand its offer also in light of the partnership with Poste.