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TIM issues profit warning, citing performance of DAZN Serie A pact

Italian telecoms company TIM has partly blamed the performance of its Serie A football pact with subscription broadcaster DAZN as it issued its third profit warning this year.

TIM has updated its forecast for the 2021 financial year, stating that organic Ebitda (earnings before interest, taxes, depreciation, and amortisation) after leases for its domestic business unit is estimated to see a “low teens decrease”. In October, it had warned of a “high single-digit decrease”.

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