The TIM affair for the government remains frozen, at least officially, until when the American fund Kkr do not discover the cards and detail his proposed acquisition of the Italian company. The direction of the dossier, which in fact was delegated to the Mef, albeit with the coordination of other ministers and the Prime Minister, indicates at least one thing: Cassa Depositi e Prestiti, which is a shareholder of both Tim and Open Fiber, ready to enter the game, whether it is just a corporate reorganization, or whether it comes to the establishment of a newco that controls the national telecommunications network.
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The simulations at Mise
For now, these are only hypotheses, which however appear in informal communications between the various ministries. At the Ministry for Economic Development, for example, there are simulations on a growth of Cdp in the control of the network, and therefore on a substantial state investment if a radical choice of industrial policy was reached, capable of guaranteeing public control again, after years. , and strategic, of the copper and fiber optic networks.
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The development of optical fiber
There is also some concern, and the issue will be discussed in the Committee set up at Palazzo Chigi on the dossier, which will meet already this week, on the PNRR tenders concerning the fiber optic cabling of some areas of the country: in total there are 4 billion of euros, and a series of tenders in which Tim will also have to participate, a company that certainly cannot make strategic choices in serenity if at the same time disputed between the Americans, Vivendi’s French and a possible public intervention.
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Kkr takes control
An aspect that has not been highlighted so far, they still point out in the government, is what real control of the company and its strategic decisions is: the American fund Kkr has no interest in having 51% of the shares, because in the board of directors of Tim three quarters of the consent of the councilors are needed to have real control. An element that makes the game even more complex, given that yesterday Vivendi publicly rejected the value of Kkr’s offer and controls almost 30% of the former Telecom Italia.
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The reactions, from Meloni to Salvini
Meanwhile, the government is pressing both some of the majority, in the lead Lega and Cinque Stelle, and the Brothers of Italy by Giorgia Meloni, who asks the executive to report urgently to Parliament, and rejects the communications so far issued by the government, while the at the moment it does not appear that the minister for technological innovation and digital transition, Vittorio Colao, has moved to understand what Kkr’s real intentions are and what their purchase proposal is aimed at: whether to relaunch the company or to dismemberment and subsequent sale of assets. Salvini also takes sides against the risk of a stew from the company.
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