Telecom Italia lifts 3-yr investment goal, sees no ordinary div
MILAN Feb 20 (Reuters) - Telecom Italia lifted its three-year investment target on Friday to 14.5 billion euros ($16.4 billion) and said it had launched steps to list its Italian mobile towers.
In a statement outlining targets for 2015-2017, the Italian phone group said it targets an adjusted net debt of 2.5 times reported EBITDA at the end of 2017.
It its previous 2014-2016 plan Telecom Italia had guided to overall investments of less than 14 billion euros and for a sale of the domestic towers.
Telecom Italia said its board was willing to propose the payment of dividends only to holders of its saving shares at the minimum amount set in its statute. ($1 = 0.8818 euros) (Reporting by Danilo Masoni; editing by Agnieszka Flak)
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