TIM flies to Piazza Affari in the wake of Butti words. Strong purchases this morning on the TIM share which marks a jump of 8% reaching a maximum of 0.2378 euros. In the’last month the title scored a rally del 25%.
The market looks favorably on the statements made by senator Alessio Butti, undersecretary to the presidency of the council with delegated powers to digital innovation. Interviewed by Skytg24, Butti indicated his intention to meet the various stakeholders, starting with the top management of Cdp, to define the best path to arrive at a single state-controlled network.
Possible scenarios
Statements that portend a change of path compared to what was negotiated to date by Cdp with the recently extended Memorandum of Undestanding, and a relaunch of the Minerva project (which should see a ‘offer launched by CDP on Tim and the subsequent disposal of Brazilian and retail assets), although articles from various sources indicate that the alternative proposal has not yet reached an adequate degree of concreteness. “Unfortunately, there are no details on the Minerva project and how this would solve a series of complexities (guarantees on asset divestments, antitrust constraints, perimeter of assets to be divested, refinancing conditions, consistency with Cdp’s mandate) for which it is difficult to comment advantages and disadvantages compared to the scenario represented by the MoU ”, assert Equita analysts.
Il last month, Prime Minister Giorgia Meloni said of wanting to expand the powers of the state over telecommunications network resources deemed of national interest with the new government aiming to affirm the “Technological sovereignty” in the interest of IT security.
According to Equita, an offer equal to 18 billion euros (the target for the evaluation of the network indicated by the Milanese sim) would force the time to dispose of assets such as retail and Brazil, still in the turnaround / integration phase. “The risk that we see is also that calling into question the project developed by the company in recent months for vertical separation could lengthen the time of decisions and bring down what has been negotiated to date”.
Vivendi’s position
Meanwhile, an open position emerges from Vivendi, TIM’s major shareholder. According to what reported by Bloomberg News, the French would be open to discussions with the Italian government on a plan to create a single fixed telephone network that would include the Telecom Italia network. Vivendi would be willing to find a solution quickly.