Telecom Italia pushes back sale of submarine-cable unit once again
Telecom Italia said talks on closing the Sparkle sale with Italy's finance ministry and Retelit will resume on November 20.
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what happened
Telecom Italia (TIM) said it will meet next month with the Italian Ministry of Economy and Finance and with Retelit, which is backed by Asterion Industrial Partners, to keep discussing the closing of the sale of its submarine-cable unit Sparkle. Dow Jones Newswires reported that the company made the statement late on Tuesday.
The deal is worth 700 million euros ($786.7 million) including debt, and TIM agreed to the sale last year. The bidders say they remain committed to completing the acquisition, and both sides agreed to reconvene on November 20.
why it matters
The closing was originally expected in the fourth quarter of 2025, but it has been delayed repeatedly. In April, TIM extended the long-stop date to October 15, and that date has also passed without completion. The news mainly concerns one issuer, but the prolonged process matters for investors in TIM shares and for how the market values its assets.
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sources
- Telecom Italia Says Sale of Submarine-Cable Unit Pushed Back Again — Dow Jones Newswires, 21 October 2026 at 05:18 UTC
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