Statement by Palazzo Chigi: Italian Government gives green light for sale of TIM network to US infrastructure fund KKR

The Italian Government has given its go-ahead for the sale of telecommunications operator TIM’s network to US infrastructure fund KKR, with conditions. The green light is another key step in the acquisition of NetCo (the company that owns substantially all of TIM’s fixed network infrastructure), protecting the national interest and ensuring state control over the strategic assets belonging to Italy’s main telecommunications network.

The Government is set to play a role in defining strategic choices and all key safeguards are guaranteed, as is State supervision of all aspects regarding the security, defence and strategic nature of the network and its assets.
The Council of Ministers resolution includes the commitments made by the parties among the conditions, starting with the establishment of a security organisation, appointing an Italian citizen as the person in charge, exclusive competence over all matters affecting the strategic assets, keeping research and maintenance activities in Italy, and monitoring.

A clear framework of strategic supervision by the State is therefore being outlined. This is an important step forward in the overall definition of the transaction, which is proceeding in accordance with the announced time frames.