TIM's Board of Directors met today under the chairmanship of Alberta Figari and examined the non-binding offer for the purchase of TI Sparkle S.p.A. (“Sparkle”) received from the Ministry of Economy and Finance (“MEF”) and Retelit S.p.A, unanimously deliberated to mandate the CEO, Pietro Labriola, to initiate interlocutions on an exclusive basis with the bidders, in order to further discuss the economic and financial profiles of the transaction and obtain the submission - by the date of November 30, 2024 - of a binding offer under the best terms and conditions.
As a result of the above decision, the Board of Directors, in application of international accounting standard IAS 28, paragraph 6, letter c), unanimously resolved to qualify the MEF - as the majority shareholder of the vehicle that would acquire the stake in Sparkle - as a related party of TIM. Consequently, for the evaluation of the purchase offer for Sparkle, the relevant regulations on transactions of greater significance set forth in the Procedure for the Conduct of Related Party Transactions adopted by the Company will be observed.
Rome, 4 October 2024
