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Concept
TIM Group
Summary
TIM S.p.A. (formerly Telecom Italia S.p.A.), commonly known as TIM Group, is an Italian telecommunications company with headquarters in Rome, Milan, and Naples (with the Telecom Italia Tower), which provides fixed telephony and DSL data services.
It is the largest Italian telecommunications services provider in revenues and subscribers. It was founded in 1994 by the merger of several state-owned telecommunications companies, the most prominent of which was SIP, the former state monopoly telephone operator in Italy.
The company's stock is traded in the Borsa Italiana. Since 2017, the Italian State exercises on TIM the "Golden Power", which allows the government to take a number of actions when the strategic interests of the country are concerned.
TIM Group has also a subsidiary in Brazil, known as TIM Brasil, with 72.6 million customers. The brand covers over 114 million customers worldwide.
In 1925, the Italian phone network was reorganised by the Benito Mussolini cabinet and the company STIPEL was established in the same year. The original core of Telecom Italia included four companies: TIMO, TE.TI., TELVE and SET. Each of them operated in a specific geographical area.
SIP (company)
In 1964, Società Idroelettrica Piemontese (SIP), a former energy company founded in 1918, ceased producing energy and acquired all of the Italian telephone companies, becoming Società Italiana per l'Esercizio Telefonico (SIP). It was run by the Italian Ministry of Finance.
SIP was a state monopoly from 1964 to 1996 and Italian people had to pay the "Canone Telecom" (a line rental charge of about €120 per year, plus hardware rental and other minor costs) in order to have a phone at home.
Telecom Italia S.p.A. was officially created on 27 July 1994 by the merger of several telecommunications companies among which SIP, IRITEL, Italcable, Telespazio and SIRM (companies owned by STET).
This was due to a reorganization plan for the telecommunications sector presented by IRI to the Minister of Finance.
Official source
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