December 6, 2021

Wire Service Canada

Complete Canadian News World

Tim put pressure on the government and wait for the races. In the optical fiber node at Pnrr- Corriere.it

The government’s TIM issue remains frozen, officially at least, until when Kkr . US Fund Do not discover the cards and details of the proposed acquisition of the Italian company. The routing of the file, which was actually delegated to the Ministry of Finance, albeit in coordination with other ministers and the prime minister, says at least one thing: Cassa Depositi e Prestiti, a contributor to both Tim and Open Fiber, Ready to enter the game, whether it is just an institutional reorganization, or whether it is about creating a new company that will control the national communications network.

Simulations in Mise

At the moment, these are only hypotheses, which appear in informal contacts between different ministries. At the Ministry of Economic Development, for example, there is a simulation of Cdp’s growth in control of the network, and thus a significant government investment if a radical industrial policy option is found, able to ensure public control again, years later, and a strategy for copper and fiber optic networks.


Optical fiber development

There is also some concern, and this issue will be discussed in the committee established in Palazzo Chigi on the file, which will meet already this week, on the PNRR tenders related to fiber-optic cables in some regions of the country: in total there are 4 billion euros, and a series of tenders that Tim will have to Participating in it, too, is a company that certainly cannot quietly make strategic choices if it is at the same time contested between Americans and French Vivendi and potential public intervention.

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Kkr . acquisition

One aspect that has not yet been highlighted, and they still point out in the government, is what is the real control of the company and its strategic decisions: the US fund Kkr has no interest in owning 51% of the shares, because in the board of directors of Tim three-quarters Consent of councilors is needed for real control. An element that makes the game even more complicated, given that yesterday Vivendi publicly rejected Kkr’s offer and controls nearly 30% of the former Telecom Italia.

Reactions from Meloni to Salvini

In the meantime, the government is pressing both the majority, in the leadership of Lega and Cinque Steli, and the Brothers of Italy by Giorgia Meloni, which is asking the Executive to submit an urgent report to Parliament, rejecting the communications issued by the government so far, while at the moment it does not appear that the Minister Technological innovation and digital transformation, Vittorio Colau, has moved to understand what Kkr’s true intentions are and what the buyout proposal aims for: whether to relaunch the company or break up and beyond. Selling assets. Salvini also takes sides against the risks of having a stew from the company.