Italy's Fastweb To Invest EUR400 Million in Fiber-Optic Network
September 13 2012 - 12:41PM
Dow Jones News
By Manuela Mesco
MILAN--Fastweb SpA, an Italian telecommunications company
controlled by Switzerland's Swisscom AG (SCMN.VX), will invest 400
million euros ($515 million) in Italy's fiber-optic network, the
company said Thursday.
Fastweb said the investment will allow the company to reach 20%
of Italian companies and families--5.5 million families and
companies--by the end of 2014.
The Internet provider said the sum will add up to a previously
announced investment of EUR1.6 billion that the company will spend
in the next four years strengthening the network.
The additional sum announced Thursday will be used to build a
combination of fiber-to-the-home and fiber-to-the cabinet
technology, the company said.
Write to Manuela Mesco at manuela.mesco@dowjones.com
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