Cassa Depositi e Prestiti and the Macquarie fundwhich with CDP already owns Open Fiber, have submitted a non-binding offer for the purchase of 100% of Sparkle, TIM company which owns a network of over 500,000 kilometers of fiber optic submarine cables, and fixed network infrastructure. The current center-right government, and Prime Minister Meloni in particular, has never made a secret of wanting to nationalize the network for reasons of security and national interests, now there is the offer of CDP together with Macquarie.
Non-binding proposal, of course, but with very tight deadlines: it will expire on March 31st, the TIM Board of Directors won’t have much time for assessments. Also because the offer of the American fund KKR expires at the end of the month which, according to rumors, would have put on the plate 20 billion eurosie 5 less than TIM’s financial debt as of last September 30th.
Il Only 24 Hours says CDP and Macquarie’s proposal should match KKR’s but be more advantageous on cashoffer greater liquidity: on the plate around the 12 billion euros against KKR’s 10. Furthermore, the operation could be finalized by an ad hoc figure and not by Open Fiber.
The Board of Directors of Cassa Depositi e Prestiti – reads a note from CDP – which met under the chairmanship of Giovanni Gorno Tempini, gave the go-ahead for the presentation of a non-binding offer by CDP Equity, jointly with Macquarie Asset Management, for the purchase of Tim’s NetCo to be set up, which will include the infrastructural network and the stake in Sparkle. The offer will expire on March 31, 2023.