Home Business Tim crashes (-5.3%) at the end of the Ftse Mib, Butti: “total takeover bid is fantasy”

Tim crashes (-5.3%) at the end of the Ftse Mib, Butti: “total takeover bid is fantasy”

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Tim crashes (-5.3%) at the end of the Ftse Mib, Butti: “total takeover bid is fantasy”

Strong sales on Telecom Italia shares, bringing up the rear of the Ftse Mib with a drop of 5.3% to 0.206 euros, after having recorded a collapse of up to 8%. The decline in Piazza Affari follows the words of the undersecretary of the Prime Minister with responsibility for the TLCs, Alessio Butti, who ruled out the hypothesis of a total takeover bid on Tim by the government.

“Speaking of a totalitarian takeover bid again is a fantasy,” Butti declared during a meeting in Rome, adding that this option has never been discussed. The undersecretary specified that the government’s objective remains that of “ensuring public control of Tim’s fixed network”, with methods yet to be defined. A partial acquisition of Tim cannot be ruled out, in order to combine the former monopolist’s network with the assets of Open Fiber and create a single national network.

Previously, CDP Equity, Macquarie Asset Management and Open Fiber announced that they will not present an offer for Tim’s fixed network, on the day on which the deadline established by the letter of intent presented in May expires. The parties remain open to collaborating with the Italian government to find the best market solutions for a national grid.

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