Italy is positioning to become an influential shareholder in a tightly regulated broadband operator it plans to create by brokering a merger of Telecom Italia's (TIM) fixed-line access network with state-controlled Open Fiber, three sources said.
ROME - Italy is positioning to become an influential shareholder in a tightly regulated broadband operator it plans to create by brokering a merger of Telecom Italia’s fixed-line access network with state-controlled Open Fiber, three sources said.
Rome, which sees a single, fast broadband network as crucial to closing Italy’s digital gap with the rest of Europe, aims to use the European funds to upgrade the former phone monopoly’s network from copper to fibre by 2025, a government source said.A spokesman for the European Commission said it is “too early to comment on any specific proposals from Member States for the use of the Recovery and Resilience Facility.
A monitoring trustee overseeing the broadband unit’s investment policy and pro-market commitments would be appointed by Italy’s communications watchdog, whose powers would be strengthened by the government. The co-ruling 5-Star Movement has been pushing in recent months for CDP to increase its 10% stake in TIM to put it on a par with top shareholder Vivendi at around 25% and negotiate as equals a single broadband strategy.
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