Giorgia Meloni’s plan for Telecom: buy everything, take the network, resell everything. The money is put by Cdp

In the plans of the Brothers of Italy in the event of victory in the September elections there would also be the temporary nationalization of the Telecom Italia group to bring the telecommunications network under the full control of the state. The indiscretion, made known last week, gave a vigorous push to the title of the telephone group which in a few minutes jumped almost 10%. Already currently Cassa Depositi e Prestiti (CDP)the financial arm of the Treasury ministry which administers Italian postal savings, controls 9.8% of the company. In the party plans of Giorgia Meloni own CDP should buy on the market the remaining part of Tim to then resell some assets on the market. The ultimate goal would be to preserve the networkthe physical infrastructure of telecommunications, and use the proceeds from the sale of the other “pieces” to reduce the debt of the group. Over the years, the company has in fact burdened itself with debts of tens of billions of euros, at the moment there are about 30. They are largely the legacy of the various “climbs” on society achieved over decades. Starting with that of Marco Tronchetti Provera from 2001: to finance the purchase of Tim they made debts which were then discharged on the company itself once it was bought.

The funds to abate the debt would come, according to the plan, for 13 billion euros from the sale of the “mobile” part of the group that matters 30 million customers and for another 4 billion euros from the sale of Tim Brasil. In the background, as we said, the network, tangled and unresolved dossier. For some time the governments that take turns at the helm of Palazzo Chigi have been hoping for the creation of one single network. There are currently two operators. In addition to Tim who is also there Open Fiberin turn partly owned by CDP, which has a 60% stake, and the rest by the Australian fund Macquaire. Tim’s management would like to sell the network to Open Fiber, always with the involvement of Cdp but also of private and foreign entities such as Macquaire and the US fund Kkr. To hold back are the French of Vivendi, Tim first shareholders with 23.7, not convinced of the convenience of the sale. Next October would be the term designated to define a binding understanding between the parties involved.

Fratelli d’Italia, however, is aiming for one “Digital sovereignty” of the country, does not look favorably on the sales plan that would bring the infrastructure under the control of foreign entities as well. ““ The project is in the hands of Giorgia Meloni who will decide if, how and when to disclose it, ”he told the agency Bloomberg Alessio Butti, deputy and head of the Tlc department of the Brothers of Italy. “We were the first and the only ones to support the need to create a single, public and ‘wholesale only’ network”, explained Butti after the first rumors on the issue, “And we are totally against Cdp-Tim’s current plan as conceived: we need a completely different new plan that maintains the integrity of the network ”. The Telecom network is also part of Sparkle which manages thesubmarine infrastructure which connects Mediterranean countries such as Israel, Greece, Turkey with the United States, Asia and Europe and sensitive data also transit over them.

In recent weeks Giorgia Meloni has also expressed herself against the sale of the airline Ita, the shrunken heir of Alitalia, now 100% controlled by the state. According to Meloni, the current government, now disheartened, should pass the file on to the next executive. Prime Minister Mario Draghi, however, reiterated his intention to close the operation before leaving Palazzo Chigi. New offers from the two possible buyers are expected by 22 August: Msc and Lufthansa on one side, Air France and Certares fund on the other.

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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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