Retelit and Italy's Ministry of Economy and Finance to acquire Sparkle from Telecom Italia for €700m.

Retelit, a provider of infrastructure, services, and ICT solutions, and Italy's Ministry of Economy and Finance agreed to acquire Sparkle, a service provider offering a full range of infrastructure and global connectivity services, from Telecom Italia, a telecommunications company, for €700m. 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.