Telecom Italia shares drop as uncertainty clouds single network project
MILAN (Reuters) – Shares in Telecom Italia fell as quite a bit as 5% on Friday on rising uncertainty over Italy’s plans for a single super-fast broadband network.
Rome has been attempting to create a nationwide network by merging Open Fiber, a small broadband company owned by state lender Cassa Depositi e Prestiti (CDP) and utility Enel, with the landline grid belongings of former monopoly Telecom Italia (TIM).
CDP may also be TIM’s second largest shareholder behind French media massive Vivendi.
But the plan, for which TIM and CDP struck a preliminary accord remaining 12 months, has not been finalised, and two ministers from Mario Draghi’s nationwide unity authorities cast doubts over the project in newest days.
Industry Minister Giancarlo Giorgetti talked about on Wednesday Rome would re-examine the sooner authorities’s plan for the …