TIM and Boost BidCo, a corporate vehicle controlled by the Ministry of Economy and Finance (MEF) and participated by Retelit, have signed the agreement for the disposal of Sparkle based on the binding offer approved by TIM’s Board of Directors on 12 February, following the favorable opinion of the Related Parties Committee.
The agreement, assessed according to the rules for transactions with related parties, determines Sparkle’s enterprise value at 700 million euros. The disposal price will be equal to the enterprise value, adjusted based on Sparkle’s net debt and working capital at closing. The agreement includes a possible price adjustment in case certain targets for Sparkle’s 2025 EBITDA are not met.
The transaction is expected to be finalized in the last quarter 2025, once preparatory activities, including Antitrust and Golden Power authorizations, are completed.
The agreement also envisages at closing the signing of a contract between TIM and Sparkle to regulate the services that will be mutually provided thereafter.
Rome, 14 April 2025
