Shares in Telecom Italia open lower after weak Q1

martes 13 de mayo de 2014 03:19 GYT
 

MILAN May 13 (Reuters) - Shares in Telecom Italia fell in opening trades after the Italian phone group posted lower first quarter results due to declining domestic sales and a weaker currency in Brazil.

By 0714 GMT, the stock was down 1.3 percent at 0.913 euros, against a 0.9 percent decline in the European telecom index .

Results were broadly in line with analyst expectations, while net debt was slightly above expectations.

The company holds a conference call at 1000 GMT on Tuesday.

Analysts at ICBPI said investors would focus on short term prospects for the Italian market and on the planned sale of its mobile communication towers in Italy and Brazil. (Reporting by Danilo Masoni; editing by Francesca Landini)