TIM has signed an agreement to sell Sparkle to Boost BidCo, a corporate entity controlled by Italy’s Ministry of Economy and Finance (MEF) and partially owned by Retelit. The deal values Sparkle at 700 million euros and follows a binding offer approved by TIM’s Board of Directors on February 12, 2025. The Related Parties Committee also issued a favorable opinion on the transaction.
The final purchase price will reflect Sparkle’s enterprise value adjusted for net debt and working capital at the time of closing. The agreement also includes a conditional price adjustment tied to Sparkle’s 2025 EBITDA performance. TIM and Sparkle will sign a service agreement at closing to ensure ongoing commercial and operational collaboration post-transaction.
The transaction is expected to close in the last quarter of 2025, pending completion of regulatory approvals, including antitrust clearance and the Italian government’s Golden Power authorization. The sale marks a strategic divestment by TIM as part of its broader corporate restructuring plan.
- Sparkle to be acquired by Boost BidCo, backed by MEF and Retelit
- Enterprise value set at 700 million euros, with final price adjusted for debt and working capital
- Potential price revision if 2025 EBITDA targets are missed
- Closing expected Q4 2025, subject to antitrust and Golden Power approvals
- TIM and Sparkle to maintain post-sale service agreement
“This agreement represents an important step in our strategy of focusing on core business while maintaining strong cooperation with Sparkle in the future,” said TIM.