MILAN, Nov eight (Reuters) – Telecom Italia (TIM) mentioned it deliberate to spin off its information centre operations and search for an investor forward of a possible market itemizing, after unveiling a partnership with Google to develop the cloud enterprise.
The transfer is a part of a plan by Chief Govt Luigi Gubitosi aimed toward reviving the previous monopoly – an underperforming enterprise saddled with 24 billion euros of debt.
In presentation slides on its web site, TIM mentioned it could place the info centres below a newly-created authorized entity.
TIM will then search for an infrastructure investor that might enter the capital of the brand new information centre firm to finance its enlargement, whereas protecting management of it. It may additionally take into account itemizing the brand new entity down the highway.
On Thursday, TIM a strategic partnership with Google on the cloud service market.
Reporting by Elvira Pollina, enhancing by Valentina Za