Italy Telecom Operators Sign MOU On Fiber Infrastructure Co
11 November 2010 - 4:33AM
Dow Jones News
Italian telecoms operators Wednesday signed a memorandum of
understanding, or MOU, for the creation of a new company to build a
high-speed broadband infrastructure, Industry Minister Paolo Romani
said in a press conference.
Romani added the new company will be responsible for building a
basic fiber-optic infrastructure, avoiding duplications and
coordinating investments by Italy's seven leading operators. The
companies include Italy's largest operator Telecom Italia SpA (TI),
Fastweb SpA (FWB.MI), Wind SpA, Vodafone (VOD) Italia, Tiscali SpA
(TIS.MI), BT Group PLC's (BT) Italian unit, and 3 Italia.
The Italian government and the main telecoms operators have long
debated the best way to expand access to high-speed broadband
across the country, as Italy lags the rest of Europe in broadband
penetration.
The new company, which will be based on public and private
funds, will have an executive committee chaired by the Industry
ministry and will include one representative from each of the seven
telecoms operators.
The committee will be in charge of defining the new company's
governance and business plan within the next three months.
Romani confirmed Wednesday that state-controlled fund Cassa
Depositi e Prestiti (CdP) will play a role in the new broadband
infrastructure company, providing the company's capital or
loans.
Telecom Italia Chief Executive Franco Bernabe welcomed the
agreement among the operators saying it will contribute to the
relaunch of broadband in Italy.
Fastweb's board member Stefano Parisi said the new company was
an important step forward, but added its success will be influenced
by the action of Italy's telecoms regulator AGCOM, which will have
to set clear rules.
-By Giada Zampano, Dow Jones Newswires, and Carlo Renda, MF-Dow
Jones; +39 06 69766925; djitaly@dowjones.com
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