Receipt of information on the failure to meet the legal condition to settle the call to subscribe for the sale of up to 100% of shares in the share capital of TIM S.A. and the intention to continue the transaction of acquisition of shares in the share capital of TIM S.A. by FEGA _ Schmitt Elektrogroßhandel GmbH

Date of preparation	2023-08-24
Current report no.	31/2023

 

The Management Board of TIM S.A. (the “Company”) announces that on 24 August 2023, the Company and the Company’s shareholders – Krzysztof Folta, Piotr Nosal, Piotr Tokarczuk, Maciej Posadzy, Ewa Folta and Krzysztof Wieczorkowski – received from FEGA _ Schmitt Elektrogroßhandel GmbH (the “Offeror”) a notification concerning its inability to settle the call to subscribe for the sale of all shares in the Company’s share capital announced by the Offeror on 20 April 2023 (the “Call”) due to the failure to meet the legal condition stipulated in the Call regarding the issuance by the competent anti-trust authority of the consent to implement concentration consisting in the takeover of control over the Company and its group by the Offeror through the acquisition of the Company’s shares in the Call (the “Transaction”, the “Notification”).

In accordance with the Notification, the Offeror was informed on 22 August 2023 by the President of the Office of Competition and Consumer Protection about the extension by 4 months of the procedure for concentration consisting in the takeover of control over the Company by the Offeror in connection with the commencement of the so-called second phase of the procedure concerning the intention to implement concentration.

According to the Notification, the Offeror remains involved in the Transaction and will continue to cooperate closely with the Office of Competition and Consumer Protection.

SIGNATURES OF THE COMPANY REPRESENTATIVES

2023-08-24, Krzysztof Folta – President of the Management Board 2023-08-24, Piotr Nosal – Member of the Management Board