Italy's TIM, CDP agree preliminary deal on single broadband plan
By Elvira Pollina
MILAN (Reuters) - Telecom Italia (TIM) and Italian State lender CDP approved a preliminary agreement on Monday to create a national ultrafast grid operator combining the former phone monopoly's network assets with those of smaller rival Open Fiber.
The creation of the new network operator, promoted by the government, is designed to help Italy close its digital divide with other European countries.
As a first step, TIM approved on Monday the sale of a 37.5% stake of a new unit to U.S. investment firm KKR. TIM is transferring into the unit its last-mile network going from street cabinets to customers' homes.
Swisscom's Fastweb will own 4.5% of the new company, called FiberCop, which will work to switch TIM's last-mile mainly copper grid to fiber.
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MILAN (Reuters) - Telecom Italia (TIM) and Italian State lender CDP approved a preliminary agreement on Monday to create a national ultrafast grid operator combining the former phone monopoly's network assets with those of smaller rival Open Fiber.
The creation of the new network operator, promoted by the government, is designed to help Italy close its digital divide with other European countries.
As a first step, TIM approved on Monday the sale of a 37.5% stake of a new unit to U.S. investment firm KKR. TIM is transferring into the unit its last-mile network going from street cabinets to customers' homes.
Swisscom's Fastweb will own 4.5% of the new company, called FiberCop, which will work to switch TIM's last-mile mainly copper grid to fiber.
...
Read More on Datafloq
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