Italy approves cuts to broadband prices in spite of EU request
MILAN Dec 19 (Reuters) - Italy's telecoms regulator AGCOM said on Thursday it had approved cuts to the wholesale broadband prices that Telecom Italia charges its rivals to access its network, shrugging off a EU request to withdraw the proposal.
In July AGCOM tentatively approved lower fees for Telecom Italia's rivals, a move that the former phone monopoly said would reduce its annual income by 110 million euros ($152 million).
In December the European Commission formally asked AGCOM to withdraw or amend the proposed cuts, saying the move would discourage investment. (Reporting by Danilo Masoni)