Telecom Italia third-quarter core profit comes in line with expectations

November 10 (Reuters) - Telecom Italia reported third-quarter core earnings broadly in line with expectations on Tuesday, supported by revenue growth in its Enterprise and Brasil activities.

State-backed financial conglomerate Poste Italiane increased its stake in Telecom Italia (TIM) to 87% in recent months, as part of a plan to create a national champion in digital infrastructure and services.

• Its quarterly EBITDA after lease came in at €1.05 billion, compared to €1.04 billion in a company-provided consensus

• Revenues in the period from July to September stood at €3.61 billion, beating estimates of €3.56 billion

• The former phone monopoly also confirmed its 2026 outlook

• "Our priorities remain clear: sustainable growth, cash generation, debt reduction and value creation for all shareholders," said CEO Pietro Labriola in a statement

• TIM's board called for a shareholder meeting on December 17, in ordinary and extraordinary sessions

• Among the items on the meeting agenda, shareholders will be asked to revoke the authorisation to purchase and cancel treasury shares, initially granted in April

• "The proposal takes into account the new shareholding structure and the reduction in free float," TIM added in the statement

(Reporting by Enrico Sciacovelli; Editing by Vijay Kishore)