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TIT - Telecom Italia SpA News Story

€0.446 0.0  1.3%

Last Trade - 16/04/21

Sector
Telecoms
Size
Large Cap
Market Cap £5.85bn
Enterprise Value £29.07bn
Revenue £13.69bn
Position in Universe 53rd / 729

Open Fiber teams up with Leonardo, Thales JV to connect rural Italy

Thu 28th January, 2021 10:09am
MILAN, Jan 28 (Reuters) - Italian broadband firm Open Fiber
and Telespazio, Leonardo's  LDOF.MI  JV with France's Thales
 TCFP.PA , have signed a contract to offer high-speed broadband
connectivity via satellite in rural Italy, the companies said on
Thursday.
    "Even isolated homes, small islands and inaccessible areas
will be able to benefit from digital services such as online
streaming, smart working and distance learning platforms," the
companies said in a statement.
    Last year, Telecom Italia (TIM)  TLIT.MI  and French
satellite company Eutelsat Communications  ETL.PA  signed a
similar deal aiming to launch the service in early 2021.
Eutelsat said the multi-year deal was expected to be worth a
total of 150 million euros ($181.56 million).  urn:newsml:reuters.com:*:nL8N2I42QK
    Open Fiber is jointly owned by Italy's biggest utility Enel
 ENEI.MI  and state lender Cassa Depositi e Prestiti (CDP).
Aerospace and defence group Leonardo holds a 67 pct stake in
joint venture Telespazio while the rest is held by Thales.
($1 = 0.8262 euros)

 (Reporting by Maria Pia Quaglia, editing by Barbara Lewis)
 ((mariapia.quaglia@tr.com; +39 02 66129638;))
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