Europe’s large operators have started to share their second quarter results and the impact of Covid-19, as well as changes in asset ownership, have made them even more of a mixed bag than usual. Telecom Italia (TIM) recorded a quarterly year-on-year revenue increase for the first time since Q3 2018. Revenues were up by 1% to €3.8bn, mainly because of improved service revenues in the key markets of Italy and Brazil, which were up 1.7% to €3.5bn. Though the growth was modest, this was an example of an operator whose figures were heavily hit by Covid-19 in 2020 but has bounced back relatively quickly. Of course, it is easier to demonstrate growth from a base that was depressed by the…