BARCELONA (Agefi-Dow Jones)–The Italian telecommunications operator Telecom Italia announced on Sunday evening the signing of an agreement with the public investment company Cassa Depositi e Prestiti (CDP) to integrate its network into that of of its competitor Open Fiber.
This non-binding memorandum of understanding aims to launch a process that will create a single integrated network operator in Italy controlled by CDP, with the support of investment companies Macquarie and KKR, Telecom Italia said.
CDP holds a 9.8% stake in Telecom Italia and 60% of the capital of Open Fiber, according to the companies’ websites. Vivendi controls 24% of the capital of Telecom Italia.
The parties wish to sign a firm agreement by October 31, subject to obtaining the approval of the regulatory authorities and the shareholders of Telecom Italia.
-Ed Frankl, Dow Jones Newswires
(French version Aurélie Henri) ed: VLV
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
May 30, 2022 02:34 ET (06:34 GMT)