- TIM Approves €700m Sale of Sparkle to Italy and Asterion
- Economy Minister Giorgetti Stresses State Control and Governance Powers
What happened: TIM sells Sparkle to Italy and Asterion
Telecom Italia (TIM) has approved the sale of its subsea cable unit, Sparkle, to a consortium comprising Italy’s Ministry of Economy and Finance (MEF) and Retelit, a company controlled by Spain’s Asterion fund. The deal values Sparkle at €700 million ($726 million), with Italy retaining a 70% stake in the unit.
Economy Minister Giancarlo Giorgetti highlighted that the Italian government will hold a controlling stake, appoint the majority of the board of directors, and maintain broad governance powers. The sale is part of TIM’s broader asset disposal strategy aimed at strengthening its financial position and is expected to be finalised by the first quarter of 2026.
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Why it’s important
The acquisition of Sparkle by the Italian government and Asterion is a strategic move aimed at securing control over a critical subsea cable network. Sparkle’s infrastructure, which includes over 600,000 kilometres of cables, is vital for global data transmission, particularly in Europe, the Mediterranean, and the Americas.
The deal underscores Italy’s focus on maintaining strategic assets within its borders while also providing TIM with financial flexibility to pursue other opportunities.
