TIM: new company to accelerate the QUADRUPLE PLAY strategy by entering into production of premium content for ultra-broadband
The Board of Directors chaired today by Giuseppe Recchi discussed and resolved to accelerate the quadruple play strategy by entering into production of premium content for ultra-broadband and to spin-off the activities of TIMvision.
The new company’s mission will be to present a video offer enriched with original premium content produced and co-produced both nationally and internationally.
The strategy outlined by Chief Executive Officer Flavio Cattaneo to the Board of Directors identifies TIMvision as the tool to provide TIM with exclusive content in ultra-broadband that will support the uptake of fibre consumption by enlarging the offering of IPTV products and services.
Further details on the development of the business will be outlined as part of the 2017-2019 Strategic Plan, which will be unveiled in February 2017.
The Board of Directors has also confirmed the financial calendar reporting dates for the financial year 2017 , in keeping with the information content and terms of publication with respect to the regulations in force.
The 2017 calendar of corporate events is as follows:
3 February
Board of Directors meeting to approve the 2016 preliminary figures and the 2017-2019 business plan
23 March
Board of Directors meeting to approve the draft financial statements for the year and the consolidated financial reports at 31 December 2016
3 May
Board of Directors meeting to approve the interim report on operations at 31 March 2017
4 May
Shareholders' Meeting to approve the financial statements at 31 December 2016
27 July
Board of Directors meeting to approve the half-year report as of 30 June 2017
10 November
Board of Directors meeting to approve the interim report on operations at 30 September 2016
The conference calls to present the accounting data to the financial community will normally be held after the Board of Directors meeting for their approval. Any changes to the above dates will be communicated without delay.
Incorporation of wholly owned subsidiary starts
As part of the broader programme to rationalise the Company's holdings, the Board of Directors approved to start the process to incorporate wholly owned subsidiary Olivetti Multiservices S.p.A. into the Parent Company which shall be completed by the end of next summer.
Rome, 16 December 2016
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