TI up

7 Nov 2006

Telecom Italia (TI) has reported a 3.5% rise in third-quarter net profits to EUR880 million (USD1.12 billion), while revenues were up 4.6% to EUR7.77 billion. Sales were driven by the group’s European broadband operations and its Brazilian mobile subsidiary TIM Brasil, for which TI says it has received a takeover offer. Voice telephony revenues at its domestic wireline division fell, however. The group’s net debt stood at EUR39.5 billion at the end of September, down from EUR41.3 billion three months earlier. The firm says it had 8.2 million broadband internet customers in Italy, France, Germany and the Netherlands at the end of the quarter, while its domestic mobile division had 31.5 million subscribers and TIM Brasil claimed 24.1 million customers.