UPDATE 1-Telecom Italia CEO says merging with Open Fiber would be a good idea [Reuters]
TELECOM ITALIA (TI.A)
US:NYSE Investor Relations:
telecomitalia.com/tit/en/investors.html
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Source: Reuters
UPDATE 1-Telecom Italia CEO says merging with Open Fiber would be a good idea - Reuters 2 Min Read (Adds CEO comments, background) FLORENCE, Italy, May 15 (Reuters) - Merging broadband infrastructure group Open Fiber with the networks of Telecom Italia (TIM) would be positive, TIM’s chief executive said on Wednesday. TIM and Open Fiber have been discussing possible network cooperation, including a possible merger, for several months. “In coming months we will discuss things with our board and with our shareholders to see what the next steps will be,” TIM CEO Luigi Gubitosi said on the sidelines of a conference in Florence, adding that a merger would be positive. Italy is pushing to create a single ultrafast broadband operator by merging Telecom Italia network with smaller rival Open Fiber to avoid duplicating investments. Italian State lender Cassa Depositi e Prestit (CDP), which recently became TIM second largest shareholder, co-owns Open Fiber alongside state controlled utility Enel
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