Bloomberg News

Telecom Italia Sees ‘Light’ Shrinkage in Domestic Phone Market

November 18, 2011

Nov. 17 (Bloomberg) -- Telecom Italia SpA sees a “light decrease” of about 1 percent to 2 percent in the country’s telecommunications market next year, Chief Operating Officer Marco Patuano said.

“Close to stability is a little bit optimistic,” Patuano said, adding that the forecast excludes mobile termination rates. He spoke today in Barcelona at a conference organized by Morgan Stanley.

The new Italian government, attempting to curb Europe’s second-biggest debt, said today it will impose further austerity measures. Italy this week faced bond yields above the 7 percent threshold that led Greece, Portugal and Ireland to seek European Union aid.

Vodafone Group Plc Chief Executive Officer Vittorio Colao said at the same conference today that the Italian market will remain hard for a number of quarters.

“Consumer confidence will depend on the first decisions of the new government,” Colao said.

--With assistance from Chiara Remondini in Milan. Editor: Kenneth Wong

To contact the reporter on this story: Jonathan Browning in London at

To contact the editor responsible for this story: Kenneth Wong at -0- Nov/17/2011 18:00 GMT

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