Telecom Italia considering spin-off and IPO of data centres - report

News Broadband Italy 9 OCT 2019
Telecom Italia considering spin-off and IPO of data centres - report
Telecom Italia (TIM) is mulling a possible spin-off and listing of its data centre business, according to an unnamed source cited by Reuters that confirmed an earlier report from Bloomberg. The intention is to put the business into a separate unit before launching an initial public offering at some point next year, said the report, adding that the move could value the business around EUR 1 billion.

Earlier this year TIM sold its stake in Persidera, the former Telecom Italia Media Broadcasting company, to Italian infrastructure fund F2i and EI Towers for EUR 240 million, part of the wider process of streamlining the company's portfolio and focusing on its core business. It has also previously looked into the sale of assets including international services arm Sparkle to boost its stock price and cut debt.

Categories:

Fixed

Companies:

TIM,  Telecom Italia

Countries:

Italy

Tags:

Hosting - cloud - data centres, Network equipment, Financial funding, M&A buyouts & divestments

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