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Italian government looking at new options for single network

30 Nov 2022

Italian state lender Cassa Depositi e Prestiti (CDP) is not now expected to make a bid to acquire the fixed network assets of Telecom Italia (TIM), with the government now looking at new options for the telco’s future. Italy’s previous administration had wanted to push through the spin-off and sale of TIM’s fixed infrastructure, with this then merged with CDP-backed wholesale operator Open Fiber to create a single national network under government control. CDP had been due to submit a non-binding offer for the TIM assets by today (30 November).

Reuters cites a statement from Industry Minister Adolfo Urso and cabinet undersecretary Alessio Butti which says the new government under Giorgia Meloni aims to set up a working committee to find the ‘best viable market solutions’ for TIM by the end of the year, ‘to maximise the interests of the country, of the companies involved and of their shareholders and stakeholders’. Butti favours a plan where CDP takes full control of TIM and then sells off its service business and subsidiary in Brazil. The remaining network operations would be merged with Open Fiber.

CDP owns 60% of Open Fiber and almost 10% of TIM. TIM’s largest investor is Vivendi of France with a 24% interest.

Italy, Telecom Italia (TIM), Telecom Italia Group (TIM Group)

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