May 16, 2019 / 5:28 PM / 3 months ago

Italy's Enel says no formal contacts over possible Open Fiber-TIM tie-up

The new logo of Italy's biggest utility Enel is seen inside its flagship store in downtown Milan, Italy, May 4, 2018. REUTERS/Stefano Rellandini

MILAN (Reuters) - Italy’s biggest utility Enel has had “no formal contacts” over a possible tie-up of its jointly owned broadband infrastructure network Open Fiber with Telecom Italia (TIM), Enel’s Chief Executive Francesco Starace said on Thursday.

He was replying to shareholder questions at the annual general meeting. He did not elaborate, simply adding that he was “very happy” with Open Fiber.

TIM’s CEO Luigi Gubitosi said on Wednesday that a merger with Open Fiber would be positive for both companies. Open Fiber is co-owned by Enel and TIM’s second largest shareholder CDP, a state holding controlled by the Italian treasury.

Reporting by Stephen Jewkes, editing by Silvia Aloisi

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