Plans for the sale of Telecom Italia's
(TIM) landline grid NetCo to American fund KKR is "madness",
Maurizio Landini, the leader of Italy's largest trades union
confederation CGIL, said on Saturday.
"We have said from the outset that the separation and sale of
the network is an error," said Landini on the sidelines of a
peace march in Rome.
"Splitting up the company is madness. It is exactly the opposite
of what is needed," he continued.
"This way, there is the risk of challenging a company that is
fundamental for our country," insisted Landini.
"The government continues to turn a deaf ear."
In January the government have the green light to the sale of
TIM's fixed line grid, insisting that the operation "safeguards
the national interest and guarantees State control over the
strategic assets of the primary telecommunications network"
under golden-power measures.
Under the deal that could reach 22 billion euros, the Italian
State is to take a stake of up to 20% of the grid, which is
considered strategic infrastructure.
TIM wants to sell some assets to bring down its debts, which add
up to around 26 billion euros.
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