Tim Approves €700m Sparkle Deal with MEF and Retelit
Deal News | Feb 12, 2025 | Finance Community IT - 1 Corporate M&A
The board of Telecom Italia (Tim) has unanimously approved a binding offer valued at €700 million for the acquisition of its subsidiary, Sparkle, by the Italian Ministry of Economy and Finance (MEF) and Retelit. This deal, initially presented in December, involves several significant advisory firms, including Vitale & Co, Goldman Sachs, and Mediobanca serving as financial advisors. Legal advisory roles were fulfilled by Gatti Pavesi Bianchi Ludovici. The MEF and Asterion consortium received financial advice from Colombo Advisory and UBS. Key elements of the deal include obtaining Antitrust and Golden Power authorizations, with finalization expected by the first quarter of 2026.
Sectors
- Telecommunications
- Finance and Advisory
- Government and Public Sector
Geography
- Italy – The core activities and companies involved in the transaction are based in Italy.
Industry
- Telecommunications – The primary industry involved as Sparkle operates in this sector providing network services.
- Finance and Advisory – Multiple financial and legal advisory firms are involved in orchestrating the deal.
- Government and Public Sector – The involvement of the Ministry of Economy and Finance highlights its significance in public sector economic activities.
Financials
- €700 million – The total value of the bid for Sparkle presented by MEF and Retelit.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Telecom Italia (Tim) | Selling Company | Company | A major Italian telecommunications provider, selling its subsidiary Sparkle. |
| Sparkle | Target Company | Company | A subsidiary of Tim, providing network and communication services. |
| Ministry of Economy and Finance (MEF) | Bidding Company | Government | A governmental body in Italy making a joint acquisition bid with Retelit. |
| Retelit | Bidding Company | Company | An Italian operator specializing in telecommunications infrastructure. |
| Vitale & Co | Financial Advisor | Company | Provided financial advisory services to Tim. |
| Goldman Sachs | Financial Advisor | Company | Provided financial advisory services to Tim. |
| Mediobanca | Financial Advisor | Company | Provided financial advisory services to Tim. |
| Gatti Pavesi Bianchi Ludovici | Legal Advisor | Company | Handled the legal aspects of the transaction. |
| Colombo Advisory | Financial Advisor | Company | Advised the MEF and Asterion consortium. |
| UBS | Financial Advisor | Company | Advised the MEF and Retelit. |