TIM shares drop after core profit guidance omitted
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MILAN (Reuters) - Shares in Telecom Italia (TIM) fell sharply on Tuesday as Italy's biggest phone group gave no guidance on its 2020 core profit target after reporting a drop in first-quarter earnings.The former monopoly, whose shareholders include France's Vivendi and investment firm Elliott, said underlying core earnings (EBITDA) fell 7.5% in January-March from a year earlier, hit by a drop in domestic revenues.The company confirmed its financial goals for 2021-2022 but made no reference to..