July 27, 2017 / 5:53 PM / 2 years ago

Enel CEO rules out merger of fiber business with Telecom Italia

Optical fiber cables for internet providers are seen running into a Enel Group server room in Perugia, Italy, June 23, 2017. Picture taken June 23, 2017. REUTERS/Alessandro Bianchi

MILAN (Reuters) - Italy’s top utility Enel is not interested in merging its fiber-optic infrastructure business with that of Telecom Italia, CEO Francesco Starace said on Thursday.

“I am completely against a merger with Telecom Italia, it’s completely useless and has no merit whatsoever,” Starace said in a conference call.

Enel and Telecom Italia are rolling out separate ultrafast broadband networks in Italy and some politicians in Rome have said it might make sense for them to join forces.

“We are committed to going ahead,” Starace said.

Reporting by Stephen Jewkes; Editing by Crispian Balmer

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