MILAN, May 29 (Reuters) – Telecom Italia (TIM) and the Italian Depository Bank (CDP) signed a preliminary agreement on Sunday to merge the telecoms operator’s fixed network assets with those of its rival Open Fiber, the authorities said. two groups.
The operation aims to allow the creation of a unique broadband network in Italy, while the managing director of TIM, Pietro Labriola, prepares a recovery plan providing for a complete separation of the fixed network of the service activities group.
CDP, which owns 10% of TIM and 60% of Open Fiber, will control the entity resulting from the merger of the two networks, the public group said in a press release, adding that the parties’ objective is to negotiate a binding agreement. by October.
Such an agreement will be subject to the approval of the regulatory authorities, while the shareholders of TIM will also have to vote on the operation. (Report Elvira Pollina; French version Claude Chendjou)