Italy’s TIM looks for $21 billion valuation for its grid in single network deal: Sources

MILAN: Telecom Italia (TIM) has put a price tag of about 20 billion euros ($21.5 billion) including debt on the landline grid which the former phone monopoly could sell as part of plan to create a unified national fibre company, two sources with knowledge of the matter said on Tuesday.

The plan, sketched out in a preliminary agreement on Sunday, aims to combine TIM’s fixed network with that of broadband rival Open Fiber to create a national network champion under state control.

Under pressure for years in its hyper-competitive domestic market, TIM is looking to raise cash by hiving off its landline network to cut its debt pile and focus on its service operations.