Italy's telecoms authority gets EU clearance to raise copper grid prices

Macquarie Technology

28/04/2023 17:42

MILAN, April 28 (Reuters) - Italy's telecoms authority
AGCOM has received a green light from the European Commission to
raise wholesale prices for access to Telecom Italia (TIM)'s
 TLIT.MI  landline grid, a person close to the matter said. 
    AGCOM was not immediately available to comment.    
    While the higher prices aim to incentivise TIM to ditch its
old copper infrastructure in favour of optic fibre, in the short
term they will boost the value of the phone group's grid,
currently the subject of rival bids.
    Competing suitors KKR  KKR.N  and the consortium comprising
Italian state lender CDP and Macquarie  MAQ.AX  have offered 21
billion euros ($23.16 billion) and 19.3 billion euros
respectively, sources have said.
    The bids fall short of the 31 billion euros TIM's top
investor Vivendi  VIV.PA  is seeking for the sale, and the
Italian phone group is expected to seek a new round of higher
bids for the prized asset.
    


($1 = 0.9067 euros)

 (Reporting by Valentina Za, editing by Alvise Armellini)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))