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TI.A - Telecom Italia SpA News Story

$5.21 0.0  0.0%

Last Trade - 05/07/19

Sector
Telecoms
Size
Large Cap
Market Cap £9.52bn
Enterprise Value £34.62bn
Revenue £12.96bn
Position in Universe th / 7306

EU to decide by Nov. 10 on Macquarie, CDP's Open Fiber deal

Mon 4th October, 2021 12:36pm
BRUSSELS, Oct 4 (Reuters) - Italian state lender Cassa
Depositi e Prestiti (CDP) and Australian fund Macquarie have
sought EU antitrust approval for their acquisition of broadband
network firm Open Fiber, a European Commission filing showed on
Monday.
    State-controlled Enel  ENEI.MI  and CDP had until now shared
ownership of Open Fiber, which had been set up to roll out fibre
optic cables to close Italy's digital divide with the rest of
Europe.
    The EU competition enforcer set a Nov. 10 deadline for its
decision.
​    The deal will up CDP's Open Fiber stake by 10% to 60% while
Macquarie will acquire 40%.

 (Reporting by Foo Yun Chee; Editing by Kirsten Donovan)
 ((john.chalmers@tr.com; +32 470 88 14 91;))
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