July 24, 2018 / 6:09 PM / 2 months ago

Telecom Italia to review strategic options for subsidiaries

MILAN, July 24 (Reuters) - Telecom Italia (TIM) said on Tuesday it had kicked off a process to consider strategic options for its subsidiaries and would press ahead with the sale of its stake in broadcasting unit Persidera.

Italy’s biggest phone group, whose largest shareholder is French media group Vivendi, said its earnings before interest, tax, depreciation and amortisation (EBITDA) in the first six months fell 4.8 percent to 3.92 billion euros ($4.6 billion).

The result was in line with an analyst consensus provided by the company.

Sales in the period fell 2.7 percent to 9.51 billion euros, in line with consensus. ($1 = 0.8563 euros) (Reporting by Stephen Jewkes)

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