The subscription period to the Widespread Share Ownership Plan (PAD) reserved for Tim's employees ended on 30 October: this was communicated by the telecommunications company itself, which then specified in a note that in the face of an overall request higher than the issue approved by Tim's shareholders' meeting, all 127,5 million shares have been allocated to service the plan, equal to 0,84% of ordinary share capital (0,6% of total share capital including savings shares). "The success of the offer confirms the goodness of the project and the trust expressed by the entire corporate population in the Group", adds the note.
Meanwhile, there are always about Tim progress in the data center spin-off dossier, a newco that the telco intends to exploit, opening the asset to the participation of a partner. This is being discussed during today's board of directors, which will also approve the quarterly report. The newco is expected to have around 650 employees and will be called Noovle Group, also including the Noovle company acquired by Tim in recent months. The capital of the data center newco, as also announced by the managing director Luigi Gubitosi, will be open to a partner. According to what has been learned, the procedure for looking for an investor could come to life soon.
