This initiative was championed by Luca de Meo, the group’s former CEO, who even intended to take it public. However, the idea of an IPO was later abandoned due to insufficient valuation.

Shutting down this entity and reintegrating its operations within the group is expected to simplify the organization, reduce costs, and accelerate the implementation of future projects, according to the news agency.

The same sources indicate that this plan will have no impact on jobs or the contracts of the affected employees.