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According to EuroPravda, the Czech president stated that the goal of supplying Ukraine with 1.8 million rounds of large-caliber ammunition this year has been achieved.Iranian media reported that 18 crew members of a foreign oil tanker seized in the Gulf of Oman have been detained on suspicion of transporting "smuggled fuel."On December 13th, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated that to ensure the success of next years economic work, it is essential to adhere to the principle of seeking progress while maintaining stability, improving quality and efficiency, strengthening counter-cyclical and cross-cyclical adjustments, and effectively enhancing the efficiency of macroeconomic governance. Since the Politburo meeting on September 26th last year, a series of policies and measures have been introduced and implemented, and additional policies will be introduced and implemented next year based on changes in the situation. It is crucial to leverage the integrated effect of existing and new policies to promote steady and positive economic growth. The market economy is largely an expectation economy; therefore, it is necessary to improve the expectation management mechanism, conduct effective economic publicity and public opinion guidance, respond promptly to market concerns, and effectively boost social confidence.On December 13th, it was reported that an EU official stated on the 12th that Ukraines accession to the EU before 2027 is "absolutely impossible." According to reports, a European diplomat said that Ukraines accession to the EU before 2027 is "extremely difficult," and it is unclear whether EU leaders support this plan. Hungarian Prime Minister Viktor Orbán stated on the 8th that the EUs admission of Ukraine would be tantamount to declaring war on Russia, and that the EU is preparing for war with 2030 as the target date.On December 13, Venezuelan President Maduro stated that the United States usual tactics of lying, coercion, extortion, and threats are "completely ineffective" and "will never work" against Venezuela, following the recent seizure of an oil tanker in waters near Venezuela and the announcement of new sanctions.

Italy Investigates Other Options For TIM As Its Bid For A Network Wanes

Aria Thomas

Nov 29, 2022 11:46

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Telecom Italia (BIT:TLIT), a troubled former phone monopoly, would likely need extra options from the future Italian government, as a bid for its landline network by state lender CDP appears increasingly unlikely.


The multibillion-euro offer, which was championed by Mario Draghi's former administration, is part of a bigger push to combine TIM's network assets with those of smaller competitor Open Fiber to establish a unified broadband champion under the supervision of CDP.


Also crucial to TIM CEO Pietro Labriola's plan to break apart the struggling phone company in order to lower its 26 billion euro debt is an offer due on November 30.


Monday, a government source told Reuters that Italian Prime Minister Giorgia Meloni favors postponing the CDP's request.


Three sources previously stated that CDP was unlikely to reach the Wednesday deadline, while a fourth source reported that CDP had not yet scheduled a board meeting to consider an offer.


The offices of Meloni and the Treasury were slow to respond to requests for comment.


Friday, contrary to custom, Meloni transferred the government's broadband policy to cabinet undersecretary Alessio Butti. Butti has attacked the CDP's intentions for TIM in public.


Instead, Butti has encouraged CDP, which is owned by the Treasury, to purchase TIM in its entirety and then sell its service operations, including its Brazil-listed firm.


In response to Butti's suggestions, Economy Minister Giancarlo Giorgetti indicated last week that the government had "many opportunities" to assume control of TIM's network.


Analysts believe that establishing a new plan to integrate TIM and Open Fiber would take a minimum of one year, leaving TIM's future unknown at a time when rising interest rates increase the group's cash flow loss due to interest payments.


Existing cash supports TIM's debt commitments through mid-2024, and debt refinancing seems more challenging than in the past; thus, the window of opportunity to find a solution is closing. Intesa Sanpaolo (OTC:ISNPY) revealed the following in a research note.

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