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Grillo calls Open Fiber 'failure', says CDP should lead merger with TIM
2020-06-23 09:44:00| Telecompaper Headlines
(Telecompaper) Beppe Grillo, co-founder of Italy's Five Star political movement, has called for state bank CDP to merge Open Fiber with TIM, in order to create a single national network. In a new blog post, he said the Open Fiber project led by CDP and Enel had been a "failure" and the network should be merged with TIM in order to achieve national fibre coverage.
TIM signs agreement with Enel, CDP to begin talks on Open Fiber network tie-up
2019-06-21 09:19:00| Telecompaper Headlines
(Telecompaper) Telecom Italia (TIM) has announced the signing of a non-disclosure agreement with utility giant Enel and state lender Cassa Depositi e Prestiti (CDP) to begin negotiations on ways of integrating its own fibre-optic network with that of wholesale operator Open Fiber. "The objective of the discussions is to verify the feasibility of such an operation, the related procedures and the perimeter of activity subject to a possible agreement, based on the will of the parties and on the legislative and regulatory frameworks," said TIM in a brief statement.
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Italian state lender CDP mulling sale of Open Fiber stake to TIM - report
2019-05-27 09:30:00| Telecompaper Headlines
(Telecompaper) Italian state lender Cassa Depositi e Prestiti (CDP) is considering the possibility of selling its 50 percent stake in wholesale operator Open Fiber to Telecom Italia (TIM), which would issue shares in return for the holding, according to unnamed sources cited in Il Messaggero. The move would allow TIM to merge its fixed network with that of Open Fiber with a view to avoiding infrastructure duplication, said the report, adding that CDP executives have discussed the transaction with TIM's leading investor Vivendi.
CDP spends EUR 960 mln to increase TIM stake to 8.7%
2019-03-11 10:26:00| Telecompaper Headlines
(Telecompaper) Italian state lender CDP has spent over EUR 960 million to increase its stake in Telecom Italia (TIM) to around 8.7 percent, according to a SEC filing. The state holding now has over 1.32 million TIM shares and is reportedly determined to reach a 10 percent stake ahead of a key shareholder vote on the composition of TIM's board on 29 March. The meeting will see shareholders vote on a request by leading shareholder Vivendi to remove five board members appointed by US activist fund Elliott on grounds of what the French company claims is a "substantial lack of independence".
Silab Makes CDP List
2019-01-30 15:50:00| Happi Breaking News
Joins roster of companies considered to be involved in combating climate change.
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