TIM comments on Government’s decision

05/08/2018 - 10:56 PM

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With regard to the news reported in some press outlets about the government's decision to impose a fine of 74.3 million euros on the company for its breach of its notification obligations pursuant to the golden power law, TIM announces that it has received no official notification. In relation to these accusations, the company has already filed an appeal, arguing that it has never taken decisions involving actions to dispose of its strategic assets, the status of which, and the company's willingness to make them available, have never changed. The affairs regarding the legal qualification of the relationship between TIM and its shareholder Vivendi have nothing to do with the company's notification obligations, and are specifically disciplined by another provision of the same law not applicable to such.

Given also the changed governance of the company, TIM confirms its unconditional desire to collaborate with the government to ensure it is fully in harmony with all prescriptions to safeguard national security. However, it believes that the regulatory framework does not identify TIM as the entity responsible for incurring the fine, and reserves the right to consider the issue further, also following more in-depth assessments that will be started immediately.

 

Rome, 8 May 2018