May 16 (Reuters) - Telecom Italia CEO Flavio Cattaneo tells analyst call:
* Company does not need any "external capital"
* Conversion of savings shares would create value but conditions to do it no longer there CFO Piergiorgio Peluso says:
* Sees 80 million euro in labour costs cuts this year, that number to remain constant in 2017, 2018
* Cost cutting plan will help reach stable domestic EBITDA this year which is ratings agencies' main concern Further company coverage: (Reporting by Milan newsroom)