TIM Group, last week, officially created its latest business unit, named NetCo. NetCo will be contributed to its fixed network unit, FiberCop, at the closing of the transaction for the sale of its fixed network to Kohlberg Kravis Roberts & Co. L.P. (KKR), which is expected in the summer of 2024.
The business unit includes the fixed network infrastructure and related real estate, the management, the wholesale business and the entire stake in the subsidiary Telenergia. The division consists of more than 20000 people, of whom more than 19000 already work in the Wholesale & Network area, while approximately another 900 will come from TIM’s Staff functions.
As a result of the new organisation, the services component of the TIM group (ServCo) will, as of 1 December, employ a total of about 16300 Full Time Equivalents, corresponding to about 17500 people, and will include the mobile network component on a competence basis.
