Telecom Italia wants deal with Metroweb investors in coming weeks: sources

Reuters News
Posted: Mar 04, 2016 2:57 PM

MILAN (Reuters) - Italian phone company Telecom Italia <TLIT.MI> wants to reach an agreement with investors in fiber optic company Metroweb in coming weeks to development of a broadband network in Italy, two sources close to the matter said on Friday.

Metroweb is a small company controlled by infrastructure fund F2i and state lender Cassa Depositi e Prestiti through its investment arm Fondo Strategico Italiano.

It has become politically sensitive because the Italian government considers Metroweb the building block to implement a 12-billion-euro project to roll out faster Internet nationwide.

F2i, CDP and Telecom Italia plan to set up a new company jointly owned by Metroweb and Telecom Italia whose aim will be to invest in a broadband network, the sources said.

On Friday CDP chairman met with the heads of F2i and Metroweb in Milan to discuss the issue. Telecom Italia's CEO, who attended the meeting via conference call, was determined to reach an agreement quickly, one of the sources said.

Telecom Italia, CDP, F2i and Metroweb declined to comment on the issue.

(Reporting by Stefano Rebaudo; writing by Francesca Landini)