Telecom Italia BoD to discuss spin-off and possible listing of telephone network at 5 December meeting - report (translated)
The board of directors of Telecom Italia (TIM) [BIT:TIT] will meet on 5 December to discuss the spin-off and possible listing of its telephone network, Italian language daily La Stampa reported. The unsourced report said that the dossier was only an exploratory analysis at present.
The report said that the board will also examine just spinning off but not listing the network so as to retain full control. The report said that a further option would be to make the network autonomous from TIM on the lines of OpenReach, which operates the telephone network of British Telecom [LON: BT.A].
The item added that as yet no national telecom group has listed its network. However, the report said that by doing so TIM would both release value and reduce its debt.
TIM has a market cap of EUR 13.91bn.