TIM will not resist government ‘golden power’ requests

23 Nov 2017

The CEO of Telecom Italia (TIM) says the telco intends to fully comply with any requests made by the Italian government under its so-called ‘golden powers’. Reuters cites Amos Genish as saying that TIM will collaborate fully with the authorities.

The Italian government has certain powers over companies such as TIM, which are deemed to be strategic national assets, allowing the state to veto certain deals such as asset sales, mergers and changes of control at subsidiaries. Authorities in Rome have voiced concerns that French group Vivendi has too much influence at TIM, having built up a 24% stake in the telco and taken control of two-thirds of the telco’s board.