Italy to decide on TIM fine before March election

30 Jan 2018

The Italian government will decide within the next month whether to fine Telecom Italia (TIM) for alleged infringement of rules governing its shareholder make-up. Authorities are investigating whether TIM should have informed them that French firm Vivendi had taken de facto control at the telco after raising its stake to above 24% and appointing two-thirds of the board. The requirement forms part of the government’s so-called ‘golden power’ status at companies such as TIM, which are considered to be strategic national assets. There had been speculation that the decision could be delayed until after next month’s general election, but a report from Reuters cites Italy’s Industry Minister Carlo Calenda as saying that a ruling will be made before the 4 March vote.