Retelit and the MEF sign agreement with Tim for the acquisition of Sparkle

TIM and Boost BidCo, a vehicle controlled by the Ministry of Economy and Finance (MEF) and participated in by Retelit, have signed the agreement for the sale of Sparkle based on the offer approved by TIM’s Board of Directors on February 12, which had previously received a favorable opinion from the related parties committee.

Retelit and the Ministry of Economy and Finance (MEF), united under the vehicle Boost BidCo, have signed the agreement with TIM for the acquisition of Sparkle, based on the offer approved by TIM’s Board of Directors on February 12, which had previously received a favorable opinion from the related parties committee.

The agreement, whose evaluation was carried out in accordance with regulations on related party transactions, sets Sparkle’s enterprise value at 700 million euros. The purchase price will be equal to the enterprise value, adjusted for Sparkle’s net debt and working capital at closing. The agreement also provides for a potential price adjustment if certain 2025 EBITDA targets for Sparkle are not met.
The transaction is expected to be finalized by the fourth quarter of 2025, once all preparatory steps have been completed, including the required Antitrust and Golden Power authorizations.

Finally, at the closing, the agreement provides for the signing of a contract between TIM and Sparkle to regulate the reciprocal services to be provided between the two companies following the transaction’s completion.