Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > TIM sets new deadline of March 15 for Sparkle sale
    Finance

    TIM sets new deadline of March 15 for Sparkle sale

    Published by Global Banking & Finance Review®

    Posted on January 23, 2025

    2 min read

    Last updated: January 27, 2026

    An image capturing the UK Parliament's debate on proposed changes to the assisted dying law, reflecting ongoing discussions about terminally ill patients' rights. This legislative shift aims to enhance the process of assisted dying in the UK.
    Illustration of UK Parliament discussing assisted dying law changes - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Quick Summary

    Telecom Italia has extended the deadline for the sale of its Sparkle unit to March 15, due to pending financing arrangements with banks.

    TIM Postpones Sparkle Sale Decision to Mid-March

    MILAN (Reuters) -Telecom Italia (TIM) <TLIT.MI> has agreed to push back to mid-March a deadline to agree a sale of its subsea cable unit Sparkle to a consortium comprising Italy's Treasury and Spanish fund Asterion, the Italian phone group said on Wednesday.

    "The company agreed to an extension until March 15 to allow the finalisation of the preparatory steps for the final decision on the offer," TIM said in a statement, noting the "positive evolution of negotiations."

    The Treasury and Asterion filed a 700-million-euro ($729 million) binding offer just before Christmas.

    TIM's board was initially expected to take a decision on the offer, which was previously valid until Jan. 27, on Wednesday, two sources with knowledge of the matter had said.

    A previous deadline for an exclusivity period had been set for the end of February. This has also been re-set to March 15.

    The board was unable to approve a sale of the unit on Wednesday because the bid is reliant on a 600-million-euro financing package from a group of banks which has not yet been finalised, three other people with direct knowledge of the matter told Reuters.

    ($1 = 0.9603 euros)

    (Reporting by Elvira Pollina and Alvise Armellini; Editing by Valentina Za and Gavin Jones)

    Key Takeaways

    • •TIM extends Sparkle sale deadline to March 15.
    • •Sale involves Italy's Treasury and Asterion.
    • •700-million-euro offer submitted before Christmas.
    • •Financing package of 600 million euros pending.
    • •Initial decision was expected by Jan. 27.

    Frequently Asked Questions about TIM sets new deadline of March 15 for Sparkle sale

    1What is the main topic?

    The main topic is Telecom Italia's extension of the deadline for the sale of its Sparkle unit to March 15.

    2Who are the potential buyers?

    The potential buyers are a consortium comprising Italy's Treasury and the Spanish fund Asterion.

    3Why was the deadline extended?

    The deadline was extended to finalize a 600-million-euro financing package needed for the sale.

    More from Finance

    Explore more articles in the Finance category

    Image for If US attacks, Iran says it will strike US bases in the region
    If US attacks, Iran says it will strike US bases in the region
    Image for Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Image for Analysis-Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty
    Analysis-Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty
    Image for NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports
    NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports
    Image for Stellantis-backed ACC drops plans for Italian, German gigafactories, union says
    Stellantis-backed ACC drops plans for Italian, German gigafactories, union says
    Image for US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    Image for Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Image for Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Image for The Kyiv family, with its pets and pigs, defying Russia and the cold
    The Kyiv family, with its pets and pigs, defying Russia and the cold
    Image for Two Polish airports reopen after NATO jets activated over Russian strikes on Ukraine
    Two Polish airports reopen after NATO jets activated over Russian strikes on Ukraine
    Image for French miner Eramet's finance chief steps aside temporarily, days after CEO ouster
    French miner Eramet's finance chief steps aside temporarily, days after CEO ouster
    Image for Ukraine's Zelenskiy calls for faster action on air defence, repairs to grid
    Ukraine's Zelenskiy calls for faster action on air defence, repairs to grid
    View All Finance Posts
    Previous Finance PostUnion investigates claims that Boeing is sending work to non-union locations
    Next Finance PostOil prices extend losses on uncertainty over Trump tariff impact