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0906 GMT – Telecom Italia’s domestic business continued to show signs of improvement in the third quarter, and retail broadband seems to be pivoting to growth, Jefferies analysts say in a research note. The Italian telecommunications company reported quarterly organic revenue and Ebitda after lease that beat consensus expectations by 2.2% and 4.0%, respectively, but the outperformance came more from Brazil than Italy, Jefferies says. “We are seeing improvements in both domestic fixed and mobile service revenue trends, and within fixed, we finally see an inflection in calculated retail broadband [average revenue per user] to growth after a sustained period of decline, driven by continued price increases and limited churn,” Jefferies says. Shares trade 0.2% higher. (adria.calatayud@dowjones.com)
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