Telecom Inventory
Bringing you the latest news and features on the in's and out's of the Telecom Industry.
Also check out the Tech Inventory.
Also check out the Tech Inventory.
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When Telefonica SA (TEF) Chairman and Chief Executive Officer Cesar Alierta told investors in April last year that an alliance with Telecom Italia SpA (TIT) would generate 1.5 billion euros ($2 billion) in cost savings, shareholders in the Spanish telephone operator weren’t warned of the downside.
With consumer spending falling and the two countries among the worst hit by Europe’s debt crisis, Telecom Italia’s stock has since slumped 21 percent, while Telefonica is down 40 percent. Telefonica, set to release earnings this week, may say first-quarter profit was cut by a 400 million-euro charge as the value of its 10.5 percent indirect Telecom Italia holding fell, said Banco de Sabadell analyst Andres Bolumburu.
