The Government gives the green light to the sale of Netco to the US fund KKR, exercising the Golden Power and accepting the commitments presented by the company. “A certain framework of strategic supervision entrusted to the State is emerging – states Palazzo Chigi”: “An important step forward”, everything is proceeding “according to the announced timescales”.
Meanwhile, on the TIM front, work is being done on governance: the Appointments Committee has met and now the Board of Directors should start the procedure which will lead to the definition of a list of candidates and the proposal, which the assembly will have to vote on on 23 April, of a leaner board of directors, reduced from 15 to 9 members.
The green light with requirements from the Italian Government for the sale of the network has once again raised the discontent of the opposition and reawakened the concerns of the unions. “We want to know if among the guarantees of national strategic interests there are also those on employment stability”, ask CGIL and SLC CGIL, thus taking the opportunity to put the issue of shock absorbers back on the table. On the political front, the strongest criticism comes from the M5S: “The new company that will own the network will see the Italian state cornered with a meager 20% – declared the deputy Marco Pellegrini – We are facing a catastrophic retreat”.
“Let them come to the Chamber to explain”, instead ask the senator of the Green and Left Alliance Tino Magni and Antonio Misiani, economic manager of the Democratic Party. Minister Giancarlo Giorgetti follows his path: “The operations we have started, from Monte dei Paschi to even very complex operations such as Tim’s Netco, have achieved widespread satisfaction” among international investors. “These are the first steps of a plan – he explained – which we confirm is very ambitious. But on our side we have a stable government, a strong majority which is probably unique in Europe. And everyone has ascertained and evaluated this”.
Palazzo Chigi for its part reiterates that the acquisition of NetCo, in which both the Mef and F2i will be involved in a second phase, was carried out “to protect the national interest and to guarantee state control over the strategic assets of the primary network of telecommunications”. The resolution of the Council of Ministers “implements the commitments that the parties have undertaken starting from the creation of the security organisation, from the appointment of the person in charge of Italian citizenship, from the exclusive competence over all issues affecting strategic assets, from the maintenance in Italy of the research and maintenance activities, and monitoring”.
There are a dozen commitments, and Palazzo Chigi summarizes them thus: “The Government is expected to play a role in defining the strategic choices (of Netco, ed.) and all essential safeguards are ensured and State supervision is guaranteed of all aspects relating to the security, defense and strategic nature of the network and related assets”. “These are commitments deemed by the Government to be fully suitable to guarantee the protection of the strategic interests connected to the assets involved in the operation”, specifies Tim, who now has to wait for the green light from the European Antitrust.
In the meantime, we are looking at the consolidation operation between the French telecommunications group Orange and its Spanish rival MasMovil as a ‘litmus test’ on the line that the EU could take. And according to rumors, a conditional green light is ready.
Read the full article on ANSA.it
2024-01-17 20:54:00
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