Telecom Italia might consider a share buyback or acquisitions if it hits a target of cutting debt to under 30 billion euros by the end of 2004, the group's chairman, Marco Tronchetti Provera, said on Thursday.
"Buybacks or acquisitions or the speeding up of internal moves of various types...could be considered," Tronchetti Provera told a shareholders meeting.
"It is a possibility that we will consider at the appropriate time, if and when the targets are met and depending on what the best choice is for the interests of all the shareholders."
Telecom Italia said in a first-quarter results statement earlier on Thursday that its net debt fell to 30.8 billion euros from 33.3 billion in December, taking it close to its target of under 30 billion euros by the end of this year.
Analysts say the debt level is likely to rise in the second quarter when Telecom Italia pays dividends.
Tronchetti Provera's comments on Thursday were similar to those made at a strategy presentation in March.
Comments
Comments are closed.