Govt to take control of TIM network
Cabinet OK’s decree on resources, econ min entry
The government is to take strategic control of phone giant TIM’s network in order to safeguard jobs after the economy ministry signed a Memorandum of Understanding with American fund KKR to join its bid for the Italian telecommunications operator’s fixed network, Premier Giorgia Meloni said Monday.
“After having found a serious solution for Ita with an agreement with Lufthansa, EU Commission permitting, and which sometimes raises problems that we find difficult to understand, now the time has come to give a perspective to what has been one of the international champions of telecommunications”. Prime Minister Giorgia Meloni said this in the Council of Ministers when speaking about the Prime Ministerial Decree on Tim: “The direction taken by the government is the one that the centre-right has always hoped for and supported: taking strategic control of the telecommunications network and safeguarding jobs”.
The cabinet reportedly approved two measures on Tim.
These are a decree-law to secure financial resources and a Dpcm authorising the Ministry of the Economy to enter Netco with a minority stake. The Dpcm makes operational the memorandum of understanding signed on 10 August between the Ministry of the Economy and the US fund Kkr to submit a binding offer to Tim’s board of directors to take over up to 20% of Necto, the fixed network company. (ANSA).
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