E VEN BY ITALY’S chaotic standards, TIM Group, the country’s largest provider of telecommunication services, is an odd beast. In the past seven years it has churned through five chief executives. It has amassed net debt of more than €25bn ($27bn), making it the most indebted of Europe’s large telecoms firms. And now, to lower the load, it wants to do what none of its peers has done, by selling off its main asset: the fixed network. When Pietro Labriola, TIM ’s latest new boss, explains the spin-off, he does not beat around the bush. With interest rates rising, the debt burden is becoming crushing. All three big ratings agencies now score TIM ’s debt as below investment grade. Selling off the fixed network, which is expected to fetch more than €20bn, is “the clearest way to regain industrial options”. Offers were due to be in by June 9th.
E ven是意大利混乱标准，该国最大的电信服务提供商蒂姆集团（Tim Group）是一只奇怪的野兽。在过去的七年中，它通过五名首席执行官进行了搅动。它积累了超过250亿欧元（270亿美元）的净债务，使其成为欧洲大型电信公司的最大债务。而现在，为了降低负载，它希望通过出售其主要资产：固定网络来做任何同行所做的事情。当蒂姆（Tim）的最新新老板Pietro Labriola解释了分拆时，他没有在灌木丛中击败。随着利率上升，债务负担变得越来越严重。现在，这三个大型评级机构现在将蒂姆的债务评为低于投资等级。出售固定网络，预计将获得超过200亿欧元的固定网络，这是“重新获得工业选择的最清晰方法”。要约将于6月9日到达。
