Telecom Italia Raises Cost-Cut Target to $1.8 Billion by 2018

  • The savings will come from operational costs, capital spending
  • First-quarter Ebitda slides 16 percent, sales drop 12 percent

Telecom Italia SpA, Italy’s largest phone company, almost tripled its target for reducing expenses to 1.6 billion euros ($1.8 billion) by 2018 in a move pushed by new Chief Executive Officer Flavio Cattaneo, who aims to improve profitability at the former state-owned carrier.

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