Di Maio rules out sale of TIM's Sparkle unit

摘要

Italy's industry minister Luigi di Maio has categorically ruled out a sale of Telecom Italia's international services arm Sparkle after reports emerged that TIM CEO Amos Genish had invited banks to open the divestment process. "We will not allow Sparkle to be sold", said Di Maio in an interview with business daily II Sole 24, adding that "fiber access is strategic for the country and my goal is for the country to be cabled." In July the operator announced that it had "started an evaluation process of the strategic options related to its subsidiaries", with Bloomberg subsequently reporting that Sparkle is among the assets the company is evaluating for sale to boost its stock price and cut debt.