Telecom Italia forecasts core profit growth and announces first share buyback since 2022
The Italian telecom giant expects a six percent rise in core profit this year following steady earnings. It plans to return 400 million euros to shareholders.
Telecom Italia (TIM) has announced a share buyback program of up to 400 million euros, marking the first time the company has offered shareholder remuneration since 2022. The buyback is conditional on the completion of the planned sale of Sparkle (subsea cable unit), which is expected to be finalized later this year. This move follows a series of prior asset disposals, including the domestic landline network disposal, which the company utilized to reduce its debt.
