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Wednesday, November 30, 2022

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Tim is made in 4: Netco, Enterprise, Consumer and Tim Brasil

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Enac and the Lazio Region sign a protocol on advanced air mobility (ANSA)

(ANSA) – MILAN, 07 JUL – Tim splits in two, or rather in four, with Netco and Serviceco in turn divided into Tim Enterprise, Tim Consumer and Tim Brasil. The CEO Pietro Labriola defined the perimeter of the potential separation of the fixed network from the services and the board of directors gave him a mandate to overcome the vertically integrated model. This morning, on Capital Market Day, the plan will be presented to the financial community.

NetCo has a long-term horizon and will consist of the fixed network, wholesale activities including Sparkle. Tim Enterprise includes all commercial activities, digital companies Noovle, Olivetti and Telsy and assets related to data centers. Tim Consumer concentrates all the fixed and mobile commercial activities in the Consumer and Small and Medium Business (SMB) retail market, here the watchwords will be “reorganization” and “simplification”. Finally Tim Brasil who “will continue on his path towards a ‘Next Generation Telco'”.

Labriola was also asked to undertake to reduce the debt and will do so “through the transfer and enhancement of certain group assets”. Any options, specifies a note, will then be brought to the board of directors. With the new organization, Labriola also expects to “achieve a sustainable capital structure, thanks to an important improvement path in the financial position which envisages the deconsolidation of the fixed network and the possible entry of new minority shareholders into Tim Enterprise”. (HANDLE).

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Source: Ansa

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