Tim seems destined to be the innocent sacrificial victim of the electoral campaign and above all of the undue interference of the right of Brothers of Italy in the plans of the major Italian telephone company. No wonder in MY BAG the title Tim – in the silence of Consob – is continually on a roller coaster: one day it gains conspicuously and the other day it loses heavily, but the movements of the stock have nothing to do with the fundamentals of the company led by Pietro labriola. They are just the fruit of speculation fueled by the political raids of politics and in particular of the right of Giorgia Meloni who yesterday tried to correct the shot when however the oxen had already escaped from the stable.
TIM AND THE RIGHT-RIGHT'S DESIRE FOR STATISM THAT CLAIM FOR MORE GOLDEN POWER
The desire for statism of the populist right is nothing new and yesterday Meloni personally took it upon herself to recall that, if she wins the elections on 25 September, she will accentuate the use of the special powers of the Golden power which gives the State veto rights on takeovers of foreign companies in Italian companies considered strategic. It is completely legitimate for politics to have its say on the delicate relationship between the state and the market in the economy and it is also sacrosanct that it wants to preside over the jewels of the country. But on one essential condition: to clearly state what the jewels are, i.e. the companies considered truly strategic for the Italian economy. Which Meloni (and, in truth, not only her) is careful not to do. Because it is one thing to defend companies that cannot be replicated (strategic means this) such as public utility networks, the defense industry or the big banks and big insurance companies, which manage the savings of Italians and have an infinite number of Btp, and another is to claim to defend at all costs any company that is the object of interest of foreign investors. Not all are jewels.
You cannot improvise on this and Meloni, instead of listening to the improvised sorcerer apprentices of her party, would do well to hear above all the president and co-founder of the Brothers of Italy, Guido Crosetto, who being an entrepreneur, knows very well that economic patriotism, which is legitimate when it comes to supervising truly essential companies, cannot trample on the rules of the market, respect for which is an integral part of a country's international credibility.
TIM: MELONI CORRECTS THE SHOOT BUT NOW THE OXEN HAVE ESCAPE FROM THE STABLE
The sorcerers' apprentices of Fratelli d'Italia have given their worst over Tim in recent days, first by prejudicially opposing the Labriola plan which envisages the division in two of the telephone company by separating the network - which is destined to be purchased by CDP and partner and then merged with Open Fiber – from services and then putting in place a convoluted plan for the purchase not only of the network but of the entire Tim by Cassa depositi e prestiti which, by managing the postal savings of the Italians, must be kept away from reckless financial adventures. Yesterday Meloni felt the need to correct the shot, saying that Tim's goal must be defended and therefore purchased by the state through the CDP and leaving the service activities to free competition. But by now the damage to the Stock Exchange has been done: to the great benefit of the shrewdest speculators and the conspicuous losses of innocent savers who on 25 September will know who to make pay the bill.
