It will be a working Sunday for the boards of directors of the Cassa Depositi e Prestiti (CDP), of Team and Open Fiber. In the evening they will meet to give the green light to the Memorandum of understanding which must lead to single telecommunications network between those of Tim and that of Open Fiber under the direction of the CDP, which is the controlling shareholder of the networks, and with the consent of the shareholder funds kkr e Macquarie.
The Memorandum will not be binding but will fix the perimeter of the single network with the precise asset identification that will come into play, of debts and personnel of Tim that will flow into the network society. After months of discussion, it is a big step forward both for the companies involved and for the whole country, which can thus go a long way on the road to digitization and which for this very reason considers the unification operation strategic of the networks, therefore subjected to the Golden power, with government veto right on any attempts to climb.
Single network: first test on the stock market on Monday
As expected by plan of the new CEO, Pietro Labriola, Tim will cease to be a vertically integrated operator and therefore subject to a thousand antitrust constraints e it will split in two: on the one hand service activity and on the other the network; On the contrary, the networks (both primary and secondary) intended to merge with that of Open Fiber. A recent study by McKinsey has confirmed the basic thesis of the Labriola Plan according to which the sum of Tim's individual assets is worth more than the whole.
Naturally for the final creation of the network it will take time, also because the authorization of the competent authorities is essential, starting from that of theEuropean antitrust, but the road has been traced and already tomorrow the Stock Exchange will begin to evaluate the effects of an operation that seemed like a chimera but which is now finally starting to see the finish line.
