Qhis morning a press note from TIM confirms the green light
An important stage was passed by TIM in the process of selling NetCo with the approval obtained from the Council of Ministers. This key step was achieved as part of the activities aimed at closing the sale operation, following the signing of the transaction agreement with Optics BidCoa subsidiary of Kohlberg Kravis Roberts & Co. LP (“KKR”).
Il Golden Power it is a regulatory instrument, provided for in some legal systems, which allows the Government of a sovereign country to block or impose particular conditions on specific financial transactions, which fall in the national interest: making its choice, the Council of Ministers has issued an authorization provision which, in the form of prescriptions alone, confers the green light to carry out the operation, considering the commitments presented by TIM during the process. These commitments were assessed by the Government as fully suitable to guarantee the protection of the strategic interests linked to the assets involved in the operation.
The approval of the Council of Ministers represents a significant step towards the completion of the sale of NetCo and reflects compliance with the commitments made by TIM to safeguard national and strategic interests.
The sale of NetCo is part of a broader strategy by TIM to optimize and strengthen its position in the telecommunications market. The signing of the transaction agreement with KKR marked a crucial phase, and obtaining approval from the Council of Ministers lays the foundation for the success of the divestment process.
The Council of Ministers, in exercising the special powers solely in the form of prescriptions, recognized the validity of the commitments presented by TIM. These commitments not only reflect the company’s commitment to ensuring the safety and security of the assets involved in the transaction, but also demonstrate constructive collaboration between the private sector and government to reach an agreement that is in the best interests of both parties .
The next step will be the closing of the transaction, which is expected to take place on the basis of the terms and conditions agreed in transaction agreement. TIM – we read – will continue to work actively to ensure a smooth and successful transition, keeping at the center of this operation the objective of further strengthening its position in the telecommunications market.