Italy’s TIM sets out break up plan to attract new partners

2022.07.07 08:52

Italy’s former phone monopoly Telecom Italia (BIT:TLIT) (TIM) set out a plan to split its fixed network infrastructure from its service businesses in a bid to raise cash and cut debt.

Under a strategic plan unveiled on Thursday, TIM said it would spin off its domestic fixed access network and submarine cable unit Sparkle into a separate company called NetCo.

“This business plan will allow (TIM) to improve the operative performance with a specific economic and financial focus for each entity and to attract new industrial and financial partners,” TIM said.