Tim filed the notification on the control as required by article 2 of law 56 of 2012, regulating the special powers of the executive in matters of strategic assets. That is to say the so-called golden power, which the Government will now be able to evaluate and, if the extremes are met, exercise on the Telecom network and which could lead to prescriptions and conditions.
What are the consequences of this move? First, it was officially stated for the first time that the national telecommunications network is strategic for the interests of the country: now the Government can intervene to defend the public interests to be protected, asking the company, which has just appointed Amos Genish as new CEO and is in full tussle in the Vivendi affair (which holds 23,9% of Telecom and must close the open game with Mediaset on Premium), to deliver information on the investment plan on the network, requesting an adequate level of investment.
Above all, the Sparkle issue is on the table, another strategic asset (for national security), a joint stock company 100% owned by Telecom. But above all there is the issue of the unbundling of the network which is in fact relaunched after the notification. Just yesterday the president of the Democratic Party Matteo Orfini published a position paper in which he proposes a scenario in which Vivendi relinquishes control in favor of Cdp which would enter a lot of capital, giving life to a national telephone network which could then join Open Fiber (50% Enel and 50% Cdp).
The group did not comment on any of the news circulated. Telecom seems more inclined to address the issue of the network, as recently stated by the president Arnaud de Puyfontaine, on the Open reach model implemented in Great Britain and which it launched with Open Access, which provides for operational functional separation. Today, after yesterday's rally, Telecom Italia shares lose 0,65% on the Stock Exchange.
