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Telecom Italia net debt below 25 billion euros end year counting bond as equity

Published 02/10/2014, 17:29
Updated 02/10/2014, 17:30
© Reuters A Telecom Italia technical office personnel works with optical fibre in a telephone exchange in Rome
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CAPRI Italy (Reuters) - Telecom Italia (MI:TLIT) debt will be below 19.84 billion pounds at the end of this year if a mandatory convertible bond is considered as equity capital, the CEO said on Thursday.

"Considering as of now the effect of the mandatory convertible, the debt at the end of the year will be below 25 billion," Marco Patuano said.

In November last year the telecoms group issued a mandatory bond worth 1.3 billion euros, expiring November 2016.

© Reuters. A Telecom Italia technical office personnel works with optical fibre in a telephone exchange in Rome

(Reporting by Alberto Sisto, editing by Stephen Jewkes)

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