Telecom Italia: Board of Directors examines and adopts Group first-half report for 2008

Telecom Italia (Italy:TIT)(NYSE:TI) revenues were down 3.3% at 14,838 million euros, from 15,337 million euros in H1 2007 (a reduction of 499 million euros).

Internet

Revenues at the Internet unit amounted to 810 million euros, up 13.1% (94 million euros) compared with H1 2007. Growth was driven by ongoing rises in revenues from Broadband (up 12.6% or 81 million euros) and content (up 90.0% or 27 million euros) compared with the same period in 2007. The overall domestic market Broadband access portfolio grew to 7.8 million customers, of whom 6.6 million are retail customers. The strategy of migrating customers towards higher value offerings continues in order to stabilize ARPU. Flat-rated packages now account for 75% of the entire broadband retail customer portfolio. The VoIP customer portfolio numbers some 1.7 million accesses, corresponding to 25% of all Broadband Retail accesses. The IPTV service continues penetrating the consumer market with a portfolio of 180,000 clients, up 100,000 compared with Y/E 2007, while development continues on web offerings and activities through the Virgilio/Alice portal.

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