MILANO – While the Treasury sits alongside Kkr to take over the Tim network, e a table is set up at Mimit to address Musk’s Starlink accusations against the former TLC monopolist, a new front is opening which this time sees Palazzo Chigi and the company led by Labriola opposing each other. A story that dates back to 1998, the year following the privatization of Telecom Italia, and which exploded again in the last minutes of today’s stock market session.
Palazzo Chigi listens to Musk’s requests. Frost with France by Giovanni Pons 03 April 2024
At the end of trading the Tim stock became inflamed (closed at +5.2%) on the rumors of Bloomberg which indicated the imminent decision of the Court of Appeal of Rome according to which Tim must be compensated, after more than 25 years, approximately 530 million euros plus interest in exchange for the license fees that the company had paid, even if they were not due .
Everything was made official by the company a few minutes after the bell on Piazza Affari: with the quantification of the interest, Tim expects a reimbursement of one billion euros.
The Court of Appeal of Rome closed in favor of the group a fifteen-year dispute relating to the refund of the concession fee claimed for 1998, the year following the liberalization of the sector, and requested in repayment by the company. The sum due, a note explained, is equal to the original fee, just over 500 million euros, plus the revaluation and interest accrued for a total of approximately 1 billion euros. The sentence is immediately enforceable and Tim will immediately start the procedures for the recovery of the amount in question.
Tim takes advantage of the fact that the Court of Justice of the EU has intervened on the matter on several occasions, “pointing out the conflict between the directive on the liberalization of the telecommunications market and the national rules which had extended the obligation to pay the fee paid by sector concessionaires”. In particular, in 2020 the European judiciary established that the community regulatory system did not allow national legislation to extend for the 1998 financial year the obligation imposed on a telecommunications company, previously a concessionaire (such as Tim), to pay a fee calculated on the basis of turnover, but only allowed the request for payment of the administrative costs connected to the issuing, management, control and implementation of the general authorization and individual license regime.
An approach and a sentence against which the government announces a battle. In fact, the response from Palazzo Chigi was immediate, which in a note made it known that “will appeal to the Court of Cassation and request the suspension of the executive effects of the ruling“.
2024-04-03 19:13:20
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