Italian MEF and Retelit reaffirm commitment to Sparkle acquisition

A consortium led by the Italian Ministry of Economy and Finance (MEF) and Retelit has reaffirmed its commitment to acquire Sparkle, the submarine cable division of Telecom Italia (TIM). The deal, valued at 700 million euros, has faced delays due to the pending approval of United States regulatory authorities.

Boost BidCo, the corporate vehicle controlled by the MEF and involving Retelit, remains dedicated to completing the transaction. While the previous deadline for the deal's completion passed on October 15, 2026, the parties have not set a new formal closing date. Instead, they have agreed to meet again to provide a further update by November 20, 2026.

Sparkle is considered a strategic asset for Italy, managing a network of 600,000 kilometers of cables across Europe, the Mediterranean, and the Americas. The sale is part of a broader debt-reduction strategy by TIM.