June 20, 2018 / 1:21 PM / 3 months ago

Telecom Italia, Open Fiber discussed idea of fiber-to-the-home tie-up - source

MILAN, June 20 (Reuters) - Telecom Italia (TIM) has discussed the idea of merging its fiber-to-the-home (FTTH) assets with those of broadband rival Open Fiber with the smaller company’s shareholders, a source familiar with the matter said on Wednesday.

The source said the next move in any tie-up of the two groups’ FTTH assets depended on the new management at state lender Cassa Depositi e Prestiti (CDP) coming onboard.

CDP, which owns about 5 percent of TIM, is joint owner of Open Fiber with state-controlled utility Enel.

Open Fiber is currently rolling out an ultrafast broadband network across Italy in direct competition to TIM.

Resolving Open Fiber’s situation is a key priority for the new government, the source added. (Reporting by Agnieszka Flak, editing by Stephen Jewkes)

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