(Finance) – The Board of Directors of TIM ha reviewed the non-binding offer to purchase Sparkle received from the Ministry of Economy and Finance (MEF) and Retelit, unanimously deciding to give a mandate to CEO Pietro Labriola to initiate discussions with the bidders, exclusively, aimed at examining the economic and financial profiles of the operation and obtaining the presentation – by 30 November 2024 – of a binding offer according to the best terms and conditions.
Following the aforementioned decision, the Board of Directors unanimously decided to qualify the MEF – as the majority shareholder of the vehicle that would acquire the stake in Sparkle – which related party by TIM. Consequently, for the evaluation of Sparkle’s purchase offer, the provisions relating to the most significant transactions referred to in the Procedure for carrying out transactions with related parties adopted by the company will be observed.