Italy in talks to cut outlay for control of broadband JV Open Fiber -sources reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
3 Min Read
ROME/MILAN (Reuters) -Italy is considering a less expensive route to win control of broadband operator Open Fiber, three sources familiar with the matter said on Wednesday, as it looks to play a steering role to boost connectivity across the country.
Open Fiber is jointly owned by Italy’s biggest utility, Enel, and state lender Cassa Depositi e Prestiti (CDP). Enel has been in talks to sell up to 50% of the fiber infrastructure group to Australian fund Macquarie for 2.65 billion euros ($3.11 billion) since last year and a deal is expected to be clinched by June.
The original scheme envisaged CDP buying 10% of Open Fiber from Enel and negotiating governance rights with Macquarie to secure control.