Farewell to Single network of the telecommunications between Tim e Open Fiber: the CDP (Cassa Depositi e Prestiti) will not make any offer to Tim to take over its network infrastructure and merge it with that of Open Fiber. She was the premier, Giorgia Melons, to block everything and to call into question the Single Network project which should have led to the formalization of a non-binding offer from CDP to Tim by 30 November. What will happen now for Tim and also for Open Fiber is difficult to predict but it is all too easy to imagine that the Stock Exchange will not take it well. Is there an alternative industrial plan to the one imagined by Tim and Cdp for the single network? Maybe. For now, the Government seems to be navigating on sight and aiming only for discontinuity with respect to the strategies of the Draghi government, except on budgetary policy where - fortunately - the deviations foreseen by the first maneuver by Meloni are objectively limited.
MELONI GOVERNMENT: BEFORE THE UNICA NETWORK THE MISTAKE ON ITA
But before the single network, the new government had already demonstrated that it moves like an elephant in the glassware also on the privatization of ITA Airways. In August, the Draghi government had indicated as preferable the consortium formed by the US fund Centares, the American company Delta Air Lines and the European company Air France-Klm which was a candidate to take over 51% of ITA and to sign a couple of commercial agreements. But the arrival of the new government was enough to overturn everything, freezing the lead consortium and giving precedence to the one led by the German Lufthansa who would like to take the majority of ITA if an Italian industrial partner is found after the renunciation of the shipowning company MSC. Meloni's beautiful masterpiece is that the privatization is back on the high seas despite ITA losing two million euros a day and time is running out if we want to avoid a new bankruptcy in the skies after that of Alitalia and if we want to prevent Italian taxpayers from once again covering the company's losses flag that has no chance of standing on its own if it does not find the right partner.
RETE UNICA AND ITA SHATTER THE CREDIBILITY OF THE MELONI GOVERNMENT
What is the conclusion that can be drawn on economic policy from the first weeks of Giorgia Meloni's government? That the prudent budget maneuver, placing itself openly in the wake of the Draghi government, has given credibility to the Meloni government in the eyes of the European markets and chancelleries, but that the double clumsy move on the single network and ITA risks causing it to lose it precipitously.
