Italian telecommunications company, 1964–1994 From Wikipedia, the free encyclopedia
Società Italiana per l'Esercizio Telefonico p.A. (formerly Società Idroelettrica Piemontese p.A.), commonly known as SIP or SIPTEL, was the Italian state-owned telecommunications company, which dealt with public, fixed and mobile telephony.
 | |
 Former SIP's headquarters in Turin, Italy | |
| Company type | State-owned |
|---|---|
| Industry | Telecommunications |
| Predecessor | SIP |
| Founded | 1964 |
| Founder | |
| Defunct | 1994 |
| Successor | Telecom Italia |
| Headquarters | , Italy |
Area served | Italy |
| Products | |
| Owner | IRI |
In 1994 it became Telecom Italia S.p.A.
In 1964, the energy assets of Società Idroelettrica Piemontese (SIP), founded in 1918, was nationalized into Enel; it then acquired all of the Italian telephone companies, becoming Società Italiana per l'Esercizio Telefonico (SIP). It was run by the Italian Ministry of Finance.[citation needed]. SIP was a state monopoly from 1964 to 1996 and Italians were required to pay the "Canone Telecom," a line rental fee of approximately €120 per year., plus hardware rental and other minor costs) in order to have a phone at home.
On 27 July 1994, by the merger of several telecommunications companies among which SIP, IRITEL, Italcable, Telespazio and SIRM (companies owned by STET), Telecom Italia was born.[1][2] This was due to a reorganization plan for the telecommunications sector presented by IRI to the Minister of Finance.
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