Single network, times are getting longer
Confirmed the rumors collected by Affaritaliani.it: times for the single network (assuming it is done) are destined to expand. The proof came yesterday 26 January, when the meeting at Mimit did not produce any significant results. This is the fourth table convened in just over a month. But, again, no conclusion has been reached either as regards the single network, or as regards the role of Tim on the chessboard, nor even less as regards the definition of tax breaks for companies in the sector, from the recognition of the status of “energy-intensive” to reduced VAT.
The government took its time, it knows that at the moment there are other emergencies. But he also knows that without a healthy telecommunications sector there is nowhere to go. What will happen in the coming months? Meanwhile, a signal: in an overall positive day for the markets, Tim loses more than 0.6%, a clear sign that analysts no longer trust the speed of the operation. So much so Equity he agreed that the times will dilate.
According to Oddo Bhf the network marketing of Tim remains very likely. The most likely scenario is now an offer by a consortium of investors and the Cdpcon Vivendi who could accept an offer of 24 billion euros, against the estimate of 17 billion (ie a multiple of approximately 12 times EBITDA). We remind you that an official offer from Cdp or other subjects never arrived, while the big boss of Vivendi Arnaud De Puyfontaine estimated at 31-34 billion the range within which the value of the network is placed.
It must be said that in the meantime a lot of water has flowed under the bridge and the French have no longer spoken of figures. The ruling of the Supreme Court in recent days which establishes how Vivendi does not have de facto control over Tim is a further assist in finding a balance, with the French who, once they leave the board, can play freely as “simple” shareholders.
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