TIM still awaiting formal notification of EUR74m fine

10 May 2018

Telecom Italia (TIM) says it has not received formal notification of a fine relating to changes in its ownership structure. Local press reports are suggesting that the government will require TIM to pay EUR74.3 million (USD88.0 million) for failing to notify authorities that French firm Vivendi had assumed de facto control of the telco after increasing its shareholding to around 24%.

In a statement TIM said that it had already filed an appeal against any potential penalty, noting that it had ‘never taken decisions involving actions to dispose of its strategic assets’. The statement continued: ‘TIM confirms its unconditional desire to collaborate with the government to ensure it is fully in harmony with all prescriptions to safeguard national security. However, it believes that the regulatory framework does not identify TIM as the entity responsible for incurring the fine, and reserves the right to consider the issue further, also following more in-depth assessments that will be started immediately.’