Telecom Italia CEO Pietro Labriola provided more details on the operator’s plan to divide the operator into two distinct units, as part of the long-term strategy to attract new partners and cut debts. Telecom Italia has confirmed that it will entrust the domestic fixed connections to a separate company, NetCo, which will also include the management of submarine cabling with the company Sparkle. The services will instead be entrusted to another internal company, ServiceCo, which will also absorb the Brazilian branch of TIM. TIM Enterprise, on the other hand, will include the cloud consulting firm Noovle, Olivetti and the cybersecurity business Telsy. Telecom Italia stated that the move will be crucial in attracting new lenders and partners, given that the official debt figures for the company speak of 11 billion euros, which rise to 23 according to Reuters: the goal is to drop below 5 billion. . TIM is also pursuing the merger with Open Fiber for fiber connections, and recently the CEO of Open Fiber Mario Rossetti stated that an agreement will be reached by the end of the year.
#TIM #splits #company #attract #partners #debt