Telecom Italia completed the sale of fixed infrastructure unit NetCo to a consortium led by investment company KKR, a move positioned by the operator’s CEO Pietro Labriola as aiding the sustainable and fastest possible development of his company.
The €22 billion deal has been in the works for two and a half years and has not been without its detractors among Telecom Italia’s investors. However, the operator estimates it will enable the company to cut €13.8 billion in debt.
Alongside the sale of the asset Telecom Italia signed a master service agreement outlining the commercial relationship between the operator and the sold spin-off.
In a statement the operator explained the deal would provide it with the opportunity to adopt a new business model to “compete more effectively in the consumer and enterprise markets in Italy, thanks to a stronger focus on the industrial and commercial aspects of its business and thanks to a solid financial structure”.
Labriola added the business had “reached a milestone that is also a new starting point” noting “we chose to separate the fixed network infrastructure services from the other services we provide, to ensure the best, sustainable and fastest possible development of TIM”.
The post TIM eyes business model shift as fixed sale completes appeared first on Mobile World Live.
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