Sparkle Acquisition Announced by Italian Ministry
Deal News | Apr 16, 2025 | White & Case LLP
The Italian Ministry of Economy and Finance (MEF), along with Boost BidCo, has reached an agreement to acquire Sparkle from the telecommunications company TIM. White & Case LLP, acting as legal advisers, played a pivotal role in this transaction, which attributes Sparkle an enterprise value of €700 million. The transaction awaits regulatory approvals, including Antitrust clearance and Golden Power authorization, and is anticipated to formally close by the end of 2025. White & Case engaged a team of partners and associates across Milan and Brussels to facilitate the process, ensuring compliance with related-party transaction regulations.
Sectors
- Telecommunications
- Legal Services
Geography
- Italy – Both the Italian Ministry of Economy and Finance and Sparkle, the target company, are based in Italy, making this geography central to the transaction.
- European Union – The transaction involves entities within the EU, suggesting a broader geographic relevance due to regulatory considerations like Antitrust clearance and Golden Power authorization.
Industry
- Telecommunications – Sparkle operates in the telecommunications sector, making this industry classification relevant to the acquisition.
- Legal Services – White & Case LLP provided legal advisory services, highlighting the involvement of the legal sector.
Financials
- €700 million – The enterprise value attributed to Sparkle in this acquisition deal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sparkle | Target | Company | A telecommunications company being acquired from TIM by Boost BidCo. |
| TIM | Selling Company | Company | The telecommunications company currently owning Sparkle, selling it to Boost BidCo. |
| Boost BidCo | Bidding Company | Company | A corporate vehicle controlled by the Italian Ministry of Economy and Finance, participating in the acquisition of Sparkle. |
| Italian Ministry of Economy and Finance (MEF) | Bidding Company | Government | The governmental entity making the acquisition through Boost BidCo. |
| Retelit | Participant | Company | A participant in Boost BidCo, involved in the acquisition transaction. |
| White & Case LLP | Legal Advisor | Company | The law firm advising the Italian Ministry of Economy and Finance on the acquisition process. |