Does Vivendi in Tim make the Meloni government angry?
Tim network dossier, Vivendi's requests, friction with CDP and now the case of the French consultant, Andrea Pezzi, unveiled by Repubblica. Facts, numbers and reconstructions
Vivendi's latest moves in the spotlight of the Meloni government. And the slanderers, albeit so far not publicly disclosed, furrow the majority of the government and ministries.
THE OFFENSIVE OF VIVENDI ON TIM
First the stratospheric requests to Cdp to acquire Tim's network, then the decision to tear up the exclusivity provided for Cdp and now the very close economic relations of Andrea Pezzi, the consultant most listened to by Arnaud de Puyfontaine, the great boss of Vivendi, with Tim (which sees the French group as the largest shareholder with 23.75% ".
WHAT REPUBLIC HAS REVEALED ABOUT PIECES-VIVENDI-TIM
According to the reconstruction of today's newspaper Repubblica , in the contract with Dazn it is foreseen that all the advertising that Tim directs on the distributor of football matches must be conveyed through the Mint technological platform in exchange for a very generous commission (it seems 8% ). “Pieces for his part, according to sources close to him, seem to have worked hard to get Tim free spaces worth several million euros, thus lowering his profit margins”, wrote Giovanni Pons of the newspaper Gedi.
THE RELATIONSHIPS OF PIECES WITH TIM
But the relations between the Pezzi company and Tim do not end here and "they were also the subject of a specific audit conducted under the management of Pietro Labriola and which landed on the board of statutory auditors, without however any irregularities being identified as it is of consultancy relationships ".
REPUBLIC NEWS ON PIECES, TIM AND VIVENDI
The contacts between Pezzi and Tim began in 2016, they also passed through Tim Uk when Amos Genish was at the helm of the group and then by Tim Brasil when the carioca company was led by Labriola, underlines Repubblica: "So the relationship is continued with ups and downs in the Gubitosi season and has consolidated since Labriola was catapulted to the top of the telephone company. In January 2022, in fact, and for a duration of five years renewable for another five, Tim signed, without resorting to a tender, two other contracts with the Mint. The first concerns the "M1 Platform" which allows the customer to automate the online advertising purchase process ".
THE NUMBERS REVEALED
Pieces – according to the reconstruction of Repubblica – “managed to get Tim's entire digital budget (estimated between 60 and 100 million euros) to pass through his platform in exchange for a“ Tech fee ”of 5 million per year. Another contract provides that the supply of a series of advertising services connected to the "M1 Platform" will be remunerated with a "fee" equal to 4% of the budget. Obviously, in the face of this turnover that it obtains from Tim, it has to bear costs and therefore the final profit margin of these three contracts, again according to sources close to Pezzi, would only account for 8% of the total ”.
FRICTION FACTORS BETWEEN VIVENDI AND THE OTHER TIM MEMBERS
But the Pezzi case that emerged today is not the only factor of friction between Vivendi and the other shareholders of the group headed by the CEO, Pietro Labriola: in recent days, Tim's board of directors extended by one month the possibility for Cdp Equity to make a non-binding offer to purchase its network infrastructure, but without exclusivity. A "strong" choice that seems destined to change the plan for the creation of the single network in the run-up, Il Sole 24 Ore remarked in recent days: "Dropping the exclusivity in fact means reviewing the plans for Netco, the company where former monopolist will transfer the network and Sparkle. In practice, Tim has indeed granted the time required by the Cdp, Kkr and Macquarie consortium for the formulation of a new offer, but has also opened the possibility that other investors can come forward with proposals that will be evaluated at this stage ".
THE ANALYSIS OF THE SUN 24 HOURS
It is clear that – underlined the Confindustria newspaper in recent days – if any fund were to present an offer for a minority share of the Network , the Cdp consortium would be obliged to review the plans that today set the presentation of a possible offer for next year. binding. Then there is the price issue, on which Vivendi and Cdp have not converged for some time, as reported for some time on Startmag . “Until now, the value of the network was measured between the wishes of Tim 's first shareholder, Vivendi , above 30 billion and the values offered by the potential buyer, Cdp , who reasoned on a range that was at least 50% distant from the requests of the French partner. Spreading the cards, and inviting other interested funds could set a price threshold up or down that cannot be ignored by both sides ”, Il Sole 24 Ore wrote.
THE ROLE OF PIECES AND THE CASE OF THE SMS IN DAGOSPIA
Finally, on the role of Pezzi , it should be noted that in September after a tweet from the director of Startmag on the activism of the manager Pezzi on Tim, relaunched by Dagospia, a flash appeared on the part of the site founded and directed by Roberto D'Agostino on a text message. di Pezzi announcing that he had not worked for Vivendi for months, then the text message to Dago was canceled and replaced with this one.
THE WORDS OF BUTTI (BROTHERS OF ITALY)
Finally, there is waiting for the indications that will come from the new government. And as proof of the turmoil in the majority that supports the Meloni executive on the Tim dossier and the single network, there are the words of today by Alessio Butti, undersecretary to the presidency of the Council with responsibility for innovation: "The Minerva project" of rete unica tlc public control, developed by the Brothers of Italy, "is a priority" and "I will begin to hear all the stakeholders starting from the CDP", said Alessio Butti (Brothers of Italy), Undersecretary to the Presidency of the Council with responsibility for Innovation speaking to SkyTg24 that “Cassa, which is the emanation of the Mef, has a double role which is strange, both within Tim and within Open Fiber. We will start talking to Cassa and then to Tim and the other operators. It is essential to start on the right foot ". "In recent months we have managed to bring the mainstream to our positions," he explained.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/vivendi-in-tim-fa-imbestialire-il-governo-meloni/ on Sat, 05 Nov 2022 09:10:21 +0000.