Telecom Italia, according to
Reuters and the
WSJ, is planning a daring restructuring and a complte u-turn. It seems highly unlikely, unless TI thinks both fixed and mobile could be full-service providers (based on structural separation and WiMAX respectively). A far-fetched kind of multi-brand strategy. In short:
- Sell-off TIM and TIM Brasil
- Structural separation (but no sell-off of the fixed network yet)
- Content deal with Sky Italia (News Corp)
Observations:
- Focus on fixed is a departure from convergence strategies adopted almost everywhere, even at a wireless company like Vodafone. Exceptions: Sprint Nextel and Alltel (selling off Embarq and Windstream/Valor). But Sprint has WiMAX as a fixed-line replacement.
- Focus on IPTV seems to place TI head to head with other TV providers: satellite, free TV and FastWeb.
- Structural separation would be a long-term solution to regulatory issues.
- TI could still include a mobile component by sealing an MVNO deal with TIM before the spin-off.
- TIM could enter the fixed/BB market through a merger/acquisition or by launching WiMAX/WiBro.
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