Telecom Italia is not preparing to lower its earnings guidance, a Dow Jones report, quoting a company spokesperson, said.
'Telecom Italia denies the rumor of an imminent profit warning,' the official, quoted by Dow Jones, said.
Telecom Italia shares came under pressure last week after rival France Telecom lowered its revenue guidance, the report said.
The report said some analysts and traders speculated that Telecom Italia would follow suit.
Bear Stearns earlier said a deterioration in third-quarter operating performance at TI's mobile unit raised the risk the company would have to lower guidance, the Dow Jones report said.