TIM: sells 70% stake in Italian network operator Persidera

(CercleFinance.com) - Italy's TIM said it has reached an agreement for the sale of its 70% stake in network operator Persidera, based on an enterprise value of 240 million euros.


Telecom Italia and GEDI Gruppo Editoriale - which owns the remaining 30% of Persidera - said they have reached a binding agreement with Italian asset management company F2i and telecom infrastructures group EI Towers.

TIM said the deal is consistent with the company's strategic plan of streamlining the portfolio and focusing on its core business.

The deal involves the demerger of Persidera into two separate entities, one comprising digital terrestrial frequencies and the other consisting of network infrastructure, TIM said.

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