Italy’s industry minister Carlo Calenda has said that Telecom Italia’s plan to spin off its network assets represents a ‘momentous turning point’. The telco, which offers fixed and mobile services under the TIM brand, is proposing a separation of its retail and network operations, with the networks business to become a new wholly-owned unit within the Telecom Italia group. It has presented its plan for the split to both telecoms regulator Agcom and the Italian government, though the full details have still to be hammered out by the telco’s board.
Reuters cites Calenda as saying: ‘This is a momentous turning point after talking for 20 years of the need to separate the network assets and to grant equal access to all operators.’ The minister added that it is too early to speculate on a possible stock market listing of the network business. Telecom Italia CEO Amos Genish noted last year that while the new unit would be controlled by the telco, there was no need to have full ownership.