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Italy looking for some Sparkle this Christmas

16 Dec 2022

The Italian government is thought to be considering a move to take control of Telecom Italia Group’s (TIM Group’s) submarine cable unit, Sparkle. A report from Reuters, which cites four unnamed sources, said authorities in Rome want to separate Sparkle from TIM Group then transfer it to state ownership, due to the sensitivity of some of the data it carries. A sale would create some cash for TIM, which is struggling with a large debt pile.

Meanwhile, the government is looking at ways to create a national broadband network by combining TIM’s fixed network assets with those of wholesale provider Open Fiber. It has opened negotiations with TIM investors including Vivendi and state loan fund Cassa Depositi e Prestiti (CDP).

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