Today, 1 July, a new era begins for TLCs in Italy with the completion of the sale by Tim and KKR of the Netco operation, i.e. the completion of the sale of the newco to Optics BidCo. And there is also a circle on the appointment of top management: according to what CorCom understands, barring any last-minute surprises, Luigi Ferraris will take over the leadership of the company in the role of CEO after his exit from Ferrovie dello Stato at Stefano Donnarumma has just been appointed at the helm. Netco is chaired by Massimo Sarmi, current president of Fibercop as well as of Asstel, the Confindustria association that represents the world of TLC.
Who is Luigi Ferraris?
Born in 1962, Luigi Ferraris began his career in PriceWaterhouse and then over the years held important managerial roles in Agusta, Piaggio, Sasib Beverage, Elsag Bailey Process Automation and became Chief financial officer of Elsacom (Finmeccanica Group) in 1998 and then held the same position in Enel until 2021 for the companies Eurogen, Elettrogen and Interpower and becoming CFO of the Group in 2009, the year in which he also took on the role of president of Enel Green Power. From February 2015, until his appointment at Terna, he was Chief Financial Officer of Poste, member of the board of directors of Banca del Mezzogiorno-Mediocredito Centrale and of Erg. Since May 2021 he has held the position of CEO of Ferrovie dello Stato and in December 2023 he was appointed new President of the Europe Region, for the period 2024-2025, by the Uic Europa Regional Assembly (International Union of Railways).
Netco’s perimeter
Netco includes the fixed network infrastructure and the relevant properties, of which it will be responsible for the management, the wholesale activity and the entire participation in the subsidiary Telenergia. The division is made up of over 20 thousand people, of which over 19 thousand already work in the Wholesale & Network area, while another 900 or so come from the Staff functions of Tim.
Total revenues of 3.5 billion, up 2.8% year on year and those from services jumped by 3.4% to 3.3 billion. Ebitda at +11.6% equal to 1 billion euros. With the aim of providing indications on the performance of ServCo’s business, last May Tim simulated the effects of the separation of NetCo starting from 1 January 2022. And the data also considers the effects deriving from commercial relationships with NetCo , which will derive from the Master Service Agreement which will be signed with NetCo and from the contextual reorganization of the domestic activities in the Tim Consumer and Tim Enterprise areas.
