CDP taking control of Open Fiber to ease talks on single network – TIM CEO

A deal which will give Italian state lender CDP a majority stake in Open Fiber should ease talks over a long-delayed merger of the broadband firm’s network assets with those of Telecom Italia, the CEO of the Italian phone group said on Monday.

Enel on Friday agreed to sell its stake in Open Fiber, handing control of the broadband network firm to state lender Cassa Depositi e Prestiti (CDP) and bringing in Australian fund Macquarie as owner of a 40% stake.

“We view it as a good thing, talks over the single network will be easier,” Telecom Italia (TIM) CEO Luigi Gubitosi told journalists on the sidelines of an event in the Italian northern city of Trento.

His remarks were confirmed by a company spokesman. Reuters