In the third quarter, year-on-year performance turned positive, as we continued to benefit from TIM Brazil and Telecom Argentina’s contribution, as well as from ongoing operational efficiency at domestic level.We will focus later on net income performance. The nine-month Group operating free cash flow was up EUR684 million. That is equivalent to 17.8% year-on-year, excluding the Sparkle settlement of EUR389 million paid out in the third quarter of 2010. Net debt visibly decreased from year end 2010 by EUR1.52 billion. In the last quarter of 2011, we will book the cost of the spectrum auction for an amount of EUR1.2 billion.
Telecom Italia's CEO Discusses Q3 2011 Results - Earnings Call Transcript
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