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TIM to rebuff Italian government’s offer for Sparkle

Last week, the Italian government reportedly made a bid to acquire 100% of TIM’s submarine cable unit Sparkle. While the financial details of the bid were not revealed, reports suggested that it valued the business at up to €750 million.

Today, further reports suggest that this bid is set to be rejected by TIM, with the company’s directors set to seek a higher offer for its subsea assets

F2i to invest €1bn in TIM’s NetCo 

Italian government-backed infrastructure fund F2i has announced that it will invest €1 billion in Telecom Italia (TIM)’s NetCo, acquiring a 10% stak in the newly spun off business. As a result, the company will join US investment firm KKR and the Italian Ministry of Economy and Finance as co-investors.

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