Evolution of the Domestic competitive environment, in the face of new operators in mobile and fixed wholesale; Plan for separation of the fixed access network, and its potential impact on operational and financial dynamics; Financial discipline in the management costs and toward the purchases of video content; Evolution of regulation, in the face of growing infrastructural competition and a consequent geographical differentiation of TIM’s positioning; the roll-out costs of the new technology; Growth of customers served with FTTx technology, convergent services and the penetration of Business customers in ICT services; Digitization as an element of operational efficiency, service improvement and sales support; Important opportunities to reduce the total costs offered by the decommissioning of legacy components of the network; Trend of CAPEX and their correct sizing, offering important growth opportunities for net cash generation; Continuous development of TIM Participações and its positive results; Possible support for the Group’s deleverage from inorganic options; The level of attention on governance issues and on the possible settlement of contrasts emerging among the main shareholders is always very high.