Società Idroelettrica Piemontese
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| Traded as | BIT: TIT |
|---|---|
| Industry | Telecommunications |
| Founded | 1925 as Stipel 1964 as SIP 1994 as Telecom Italia 2015 as TIM (Commercial rebrand only) |
| Headquarters | Rome, Italy |
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Key people
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Flavio Cattaneo (CEO) Giuseppe Recchi (Chairman of the executive board) |
| Products |
Fixed Telephony Mobile Telephony Broadband Internet IT Services Networking Solutions Digital television |
| Revenue |
 €21.57 billion (2014)
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 €4.53 billion (2014)
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€2.35 billion (2014)
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| Total assets |
€71.55 billion (2014)
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| Total equity |
€21.67 billion (2014)
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| Owner | Vivendi (24.9%) |
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Number of employees
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66,025 |
| Website | www |
Telecom Italia is an Italian telecommunications company headquartered in Rome, which provides telephony services, mobile services, and DSL data services. It was founded in 1994 by the merger of several state-owned telecommunications companies, the most important of which was Società Italiana per l'Esercizio Telefonico p.A., (known as SIP, from the earlier Società Idroelettrica Piemontese), the former state monopoly telephone operator in Italy.
The company's stock is traded in the Borsa Italiana.
In 1925, the phone network was reorganised by Benito Mussolini cabinet and Stipel company was established in the same year. The original core of Telecom Italia includes also 4 more different companies: TIMO, Teti, TELVE and SET. Each of them worked in a specific geographical area. It was in 1964 that these companies merged in one single group, under the name of SIP.
In 1964, Società Idroelettrica Piemontese (SIP), a former energy company founded in 1918, ceased producing energy and acquired all of the Italian telephone companies, becoming SIP - Società Italiana per l'Esercizio Telefonico. It was run by the Italian Ministry of Finance.
SIP was a state monopoly from 1964 to 1996 and Italian people had to pay the "Canone Telecom" (Mandatory Telecom Tax of about €120 per year plus hardware and bills) in order to have a phone at home.
Telecom Italia was officially created on 27 July 1994 by the merger of several telecommunication companies among which SIP, Iritel, Italcable, Telespazio and Sirm. This was due to a plan of reorganization of the telecommunication sector presented by IRI to the Minister of Finance.
In 1995, the mobile telephony division was spun off as TIM (Telecom Italia Mobile). Interbusiness, Italy’s largest Internet network, was created and in the same period with TIN (Telecom Italia Net) and the first ISPs, Internet became a reality in Italy too. In 1996, TIM introduced a new prepaid rechargeable phone card (GSM) and one year later launched the short messaging service (SMS) capability.In 1997, under the chairmanship of Guido Rossi, Telecom Italia was privatised and was transformed into a large multimedia group.
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Wikipedia