The wait won't be eternal Single telecommunications network Italian. Speaking at the Trento Economics Festival, the managing director of Tim, Peter Labriola, he quantified in 12-18 months the time needed to complete it. "My perception - said Labriola - is that there is an interest in verifying fairly quickly whether the route is feasible".
After the signing of the recent Memorandum of Understanding between Tim, CDP, Open Fiber, kkr e Macquarie, the road that must lead to the single network is in fact mapped out, but this does not mean that it is downhill. There are still economic and regulatory barriers to overcome. On an economic-financial level, the main problem concerns the evaluation of the assets that must flow into the network society and on which the French of Vivendi, who are Tim's first shareholders, have already warned everyone, saying they won't make discounts. For the market, the value of the single network is already over 20 billion euros, but the French are not satisfied. Even before quantifying their value, however, it will be necessary to understand what exactly are the assets that will flow into the new company.
Single network: the verdict of Vestager and the other supervisory authorities is still missing
But, in addition to the definition of the economic and financial value, the Single Network is expected to scrutiny by the Supervisory Authorities and control, both national and European. Above all, the opinion of theEuropean antitrust and its commissioner, Margrethe Vestager, which in the past has always shown distrust of the single network when Tim was a vertically integrated operator. Judgment that should change when Tim is preparing to split into two – the services business on one side and the network on the other – and therefore to overcome its dimension as a vertically integrated group.
If the difficulties of building a single network prove to be insurmountable, Tim could nonetheless evaluate other hypotheses – such as the sale of the network itself – “in the interest of its shareholders”
