The separation of the Telecom Italia network will lead to the creation of two companies, on the one hand the Newco of the network called Opac and on the other TI ServiceCo "in which all other Telecom Italia activities will remain". This was explained by the executive chairman of Telecom Italia, Franco Bernabè, in a hearing in the Senate. The separation of the Telecom Italia network "will have positive effects for Telecom Italia itself, for its shareholders, but above all for our country", he said, adding that "the benefits will derive in particular from a profound reorganization of the sector with a relaunch of investments in one of the most important sectors for modernisation”.
“TI ServiceCo – explained Bernabè – will purchase wholesale services from Opac, supply retail services, as well as the remaining wholesale fixed network services as well as mobile services”. The new company that will arise from the spin-off of the network will have 22 employees "and a share of sustainable organic debt, in the light of an investment plan expected to accelerate and the return expected by investors".
“It should be clarified – the chairman reiterated – that the operation does not have the purpose of improving the debt situation of the group, but has the objective of improving the profitability of infrastructural investments and will be substantially neutral from the point of view of the rating”.
