Headlines
Italy to hold 70% stake in TIM subsea unit Sparkle after deal with Asterion
Published by Global Banking & Finance Review®
Posted on February 13, 2025
1 min readLast updated: January 26, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 13, 2025
1 min readLast updated: January 26, 2026
Italy will hold a 70% stake in TIM's Sparkle unit after a deal with Asterion, ensuring governance control and strategic direction.
ROME (Reuters) - Italy will hold a 70% stake in Sparkle once Telecom Italia (TIM) completes the sale of its subsea unit in a deal also involving Spain's Asterion fund, Italian Economy Minister Giancarlo Giorgetti said on Thursday.
TIM said on Wednesday that its board had approved the 700-million-euro ($726 million) sale of Sparkle to the consortium comprising the Italian Treasury and Asterion.
"I stress that control of Sparkle will be held by the ministry, which will hold a 70% stake, will retain the right to appoint the majority of the board of directors and will have broad powers of governance and strategic direction," Giorgetti said in parliament.
(Reporting by Giuseppe Fonte, editing by Alvise Armellini)
The main topic is Italy's acquisition of a 70% stake in TIM's subsea unit Sparkle, involving a deal with Asterion.
The deal involves Telecom Italia, the Italian Treasury, and Spain's Asterion fund.
The sale of the Sparkle unit is valued at 700 million euros, approximately $726 million.
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