TIM top investor Vivendi keen to discuss network plan with govt - sources

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MILAN (Reuters) - Telecom Italia’s (TIM) apical capitalist Vivendi is keen to commencement talks with Italy’s caller right-wing authorities connected a caller program to make a nationalist broadband company, radical adjacent to the French media conglomerate said connected Sunday.

FILE PHOTO: The logo of French media elephantine Vivendi is seen successful Paris, France, January 31, 2022. REUTERS/Violeta Santos Moura

Debt-laden Telecom Italia has been embroiled for months successful negotiations implicit the merchantability of its prized landline grid to authorities lender Cassa Depositi e Prestiti (CDP).

The imaginable merchantability was portion of a program sponsored by the erstwhile authorities to harvester TIM’s fixed web assets with those of smaller broadband relation Open Fiber successful bid to make a nationalist web champion nether CDP control.

However, regulatory and valuations issues person thwarted efforts truthful acold and the task to make a azygous web institution is present being reassessed by the caller government, which was sworn successful past month.

On Saturday, furniture undersecretary Alessio Butti told Sky broadcaster helium considered creating a azygous broadband institution a “priority”, adding helium would commencement soon talks with each stakeholders, including CDP, implicit a caller mentation of the project.

Butti had antecedently called connected CDP to prosecute the azygous web task taking implicit TIM, nether a program dubbed “Minerva”.

Under the plan, TIM would clasp the web portion hiving disconnected its services operations and its Brazil-listed portion to chopped its indebtedness pile.

People adjacent to the French media radical said connected Sunday that Vivendi appreciated Butti’s openness to dialog and reiterated the Paris-listed company’s willingness to commencement discussions to find a speedy solution.

In her inaugural code to parliament, caller Italian Prime Minister Giorgia Meloni vowed to guarantee nationalist strategical networks to beryllium state-owned portion enabling telecoms companies to vie connected services.

Treasury-owned CDP, which controls Open Fiber, is TIM’s 2nd largest capitalist with a 10% stake. Vivendi holds a 24%stake successful TIM.

Reporting by Elvira Pollina; penning by Elvira Pollina and Francesca Landini; editing by David Evans

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