TIM buys two units of BT Italia

Telecom Italia (TIM) has agreed to acquire two business units of BT Italia. The two takeover targets serve SMEs plus public administration offices in central and local government. The two business units included in the transaction generated revenues of approximately EUR90 million (USD109 million) during the fiscal year ended March 2020. The planned buyout is subject to consultations with trade unions and regulatory clearance, and is expected to complete by the end of the first quarter of 2021. BT will retain a presence in Italy serving large enterprises and multinational companies.