April 9, 2018 / 1:24 PM / 15 days ago

BRIEF-Elliott says in favour of Telecom Italia management, including CEO

April 9 (Reuters) - Activist investor Elliott says in a presentation to Telecom Italia investors:

* IN FAVOUR OF TELECOM ITALIA’S CURRENT MANAGEMENT TEAM, INCLUDING CEO

* SEES ENTERPRISE VALUE FOR TELECOM ITALIA’S FIXED LINE NETWORK ONCE SEPARATED AT 15 BILLION EUROS, THAT OF SPARKLE AT 2 BILLION EUROS

* SEES ENTERPRISE VALUE OF TELECOM ITALIA’S SERVICE ASSETS EXCLUDING NETWORK AND SPARKLE AT 17 BLN EUROS

* SEPARATION OF TELECOM ITALIA’S NETWORK ASSETS WOULD LEAD TO RE-RATING OF SERVICE OPERATIONS, CREATING 7 BLN EUROS IN ADDITIONAL VALUE

* ELLIOTT SAYS SEPARATION OF TELECOM ITALIA’S NETWORK ASSETS, INCLUDING STAKE SALE & MOVING PART OF DEBT INTO NETCO, COULD HALVE GROUP’S NET DEBT TO 12 BILLION EUROS

* ITS PLAN FOR TELECOM ITALIA INCLUDES KEEPING CONTROL OF BRAZIL BUSINESS, POSSIBLY COMBINE LATTER WITH LOCAL PEERS

* ITS PLAN FOR TELECOM ITALIA INCLUDES SELLING DOWN FURTHER STAKE IN TOWER UNIT INWIT Further company coverage: (Reporting by Milan newsroom)

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