TI: no plans to spin off TIM

Telecom Italia (TI) has no plan to spin off its domestic mobile network, Telecom Italia Mobile (TIM), chief operating officer Marco Patuano told Reuters on Friday. The clarification follows this month’s news that the telco’s board backed a proposal to divest TI’s fixed network assets, valued at EUR13 billion to EUR15 billion (USD16.9 billion to USD19.8 billion), into a separate company with a view to selling a stake in the new entity to state-backed fund Cassa Depositi e Prestiti (CDP). Also last week, a top official at the industry ministry floated the idea of single national networks for mobile and fixed telecoms services, as strong competition weighs heavy on the industry. Nevertheless, Patuano confirmed that the company’s board will discuss a possible tie-up with Hong Kong-based Hutchison Whampoa’s 3 Italia unit at its next meeting.