The Firm, with its team composed of partner Giancarlo Zoppini, associate partner Laura Puddu and junior associate Caterina Piva, successfully assisted Telecom Italia S.p.A. in a ruling procedure relating to a reorganization transaction in the virtual phone sector. Sharing the economic logic of the acquisition and the – also industrial – reorganization transaction, and thus the strategic value of the same in order to strengthen the group’s position in this sector, the Italian Revenue Agency authorized the carry forward of the losses realized by the merged company before its entry into the consolidated, attributing importance to the characteristics of the reference market, in which the high level of costs necessary for business development makes it possible to achieve positive economic results only over a medium-long term period, and to the positive trend expected for the following years, supported by the increase in the number of customers and revenues already recorded in recent years.