MILAN--Telecom Italia SpA's (TIT.MI) Chief Operating Officer
Marco Patuano said Friday that Italy's incumbent telecommunications
operator is looking with interest at the idea of spinning off its
copper-wire network, according to MF-Dow Jones.
"It's a complicated negotiation," he said, stressing that the
possibility of creating a new company controlling the network has
been looked at with interest.
Telecom Italia is holding talks with state-owned lender Cassa
depositi e prestiti, known as CDP, on the possibility of creating a
new company which could control the copper-wire network.
Telecom Italia has previously expressed interest in keeping
control of the network because it deemed it one of its most
important assets. But it has been exploring alternatives to upgrade
the network, the most extensive in the country.
Earlier Friday, the company announced a memorandum of
understanding with another broadband operator in the country,
Fastweb, controlled by Swisscom AG (SCMN.VX), to develop a fiber
optic network in the country.
Patuano said Friday that the Fastweb/Telecom Italia memorandum
of understanding is not closed to other players in the country.
Write to Manuela Mesco at manuela.mesco@dowjones.com
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