July 23, 2013 / 1:20 PM / in 5 years

Antitrust says CDP investment in Italy Telecom network needs analysis

ROME, July 23 (Reuters) - The president of Italy’s Antitrust regulator said on Tuesday that the possible purchase by state-backed fund Cassa Depositi e Prestiti (CDP) of Telecom Italia’s fixed-line network would have to be reviewed for its effect on competition.

Because CDP already owns a share in Milan’s fibre-optic network, Metroweb, through an investment fund it controls, buying the Telecom network could hamper competition, Antritrust President Giovanni Pitruzzella said in Senate testimony.

“As far is governance is concerned, it is necessary to consider... the effects of that investment must be analyzed in light of CDP’s presence in Metroweb,” he said.

Reporting by Alberto Sisto

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