(ANSA) - MILAN, NOV 10 - Tim closes the first 9 months with a net profit that rises to 1.2 billion (+ 38%) thanks also, explains a note, to the positive tax effect due to the lower taxes of previous years after the agreement with the Revenue Agency for the application of the "patent box" facilitation and proceeds from the capital gain of Inwit.
In addition, debt continues to decline, improving by 2.2 billion Group revenues in the third quarter amounted to 3.9 billion (-5%) with an improving trend compared to the previous quarter.
Revenues from services amounted to 3.5 billion euros.
While the process for the operational start of FiberCop in the first quarter of 2021 continues, Tim "at the same time continues the work for the creation of a Single Network (AccessCo), through constant dialogue with the Government and Cassa Depositi e Prestiti".
The group underlines this in a note, pointing out the activity of the third quarter, which also explains that with regard to the open files, after the valuation of Inwit, the auction is awaited in Brazil, scheduled for mid-December, for the group's assets competitor Oi and on the datacenters, the board of directors approved the creation of the Newco dedicated to their management, which will be operational starting from the first quarter of 2021 following the obtaining of the necessary authorizations.
(HANDLE).