Tim, rearrangement postponed to the floor. Single network, Brussels on alert

Tim, rearrangement postponed to the floor. Single network, Brussels on alert
Tim, rearrangement postponed to the floor. Single network, Brussels on alert

Brussels has given the green light to the unconditional reorganization of Open Fiber, complete with a Enel from the capital and the entry of the Australian fund Macquarie with 40%. And with Cassa Depositi e Prestiti which will increase from 50% to 60% of the capital.

According to what Antonella Olivieri reported for Il Sole24Ore, the European Commission would have explained that the transaction “does not raise antitrust concerns given the absence of horizontal overlaps or vertical relationships between the activities of Macquarie and Open Fiber”.

As regards the competitive profile, however, the growth of Cdp (shareholder also of Telecom Italia TIM, with 10%) in the share capital, the situation does not change, “but the reference to the basic antitrust principles, in relation to the double participation of the Cassa” would in any case be arousing some perplexity. In other words, the position of Brussels “does not sound like a single network clearance”.

Meanwhile since extraordinary advice from Telecom Italia TIM no news emerged either on the network or on any reorganization initiatives of the group aimed at enhancing corporate assets. Everything seems to be postponed to the drafting of the 2022-2024 strategic plan.

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Source

Tim rearrangement postponed floor Single network Brussels alert

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