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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 £8.70bn
Enterprise Value £33.41bn
Revenue £13.61bn
Position in Universe th / 6651

Italy competition watchdog opens probe into Telecom Italia network grid

Mon 21st December, 2020 6:02pm
MILAN, Dec 21 (Reuters) - Italy's competition authority said
on Monday it had opened an investigation into Telecom Italia's
FiberCop last-mile network grid, describing the project as a
strategic national project for which required full transparency.
    It said the investigation would look into the contracts
covering the creation and functioning of the FiberCop network as
well as supply agreements with Fastweb and Tiscali. As well as
Telecom Italia  TLIT.MI , the probe would concern Fastweb
 SCMN.S , Teemo Bidco, FiberCop SpA, Tiscali Italia  TIS.MI  and
KKR & Co. Inc  KKR.N .
    "The development of fibre telecommunications networks
represents a strategic objective for our country which can only
be achieved rapidly through healthy, dynamic competition," the
authority said in a statement.
    Telecom Italia said that along with Fastweb, it welcomed the
investigation which it said had been opened at the two
companies' request.

 (Reporting by James Mackenzie)
 ((james.mackenzie@thomsonreuters.com; +39 02 66129533 ; Reuters
Messaging: Reuters Messaging
james.mackenzie.reuters.com@reuters.net))
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