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Sparkle, Italy’s leading international service provider, has successfully landed its BlueMed submarine cable in Chania, Crete. The announcement was made during a press conference at the Italian Ambassador’s Residence in Athens, attended by key figures including Paolo Cuculi, the Italian Ambassador, and Dimitris Papastergiou, Greece’s Minister of Digital Governance.

TIM, the Italian telecommunications giant, encountered a significant drop in its share value following the announcement of an expected increase in net debt by over €1 billion due to the sale of its networks division. The company’s strategic initiative, dubbed the Free to Run plan, aimed at reducing debt through the sale, ironically led to a sharp decline in share prices, which plummeted further after the disclosure of financial details on Monday.