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TIM board approves transformation plan

7 Jul 2022

Telecom Italia Group’s (TIM Group’s) board of directors has approved a transformation plan envisaging the potential separation of its fixed network infrastructure assets (NetCo) from services (ServiceCo). Under the plan, NetCo will combine TIM’s fixed network, both primary and secondary, as well as its domestic and international wholesale businesses (Sparkle). ServiceCo, meanwhile, will comprise TIM Consumer, TIM Enterprise and TIM Brasil. TIM Consumer will combine all fixed and mobile commercial activities in the consumer and small and medium business retail markets. For its part, TIM Enterprise will include all commercial activities in the Enterprise market, the digital companies Noovle, Olivetti and Telsy, and all TIM data centre assets. A company press release says: ‘With the new organisation envisaged in the plan, it will also be possible to make the most of the opportunities offered by the digital transition and at the same time achieve a sustainable capital structure, thanks to an important path of improvement of the financial position which envisages the deconsolidation of the fixed network and the potential entry of new minority shareholders in TIM Enterprise.’

Italy, Sparkle (formerly Telecom Italia Sparkle), Telecom Italia (TIM), TIM Brasil

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