The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

UPDATE 1-Vodafone, Sky, WindTre urge Italy to create independent single network operator

Mon, 21st Sep 2020 20:53

(Recasts, adds comments, background)

MILAN, Sept 21 (Reuters) - Vodafone, Comcast unit
SKY and WindTre on Monday urged Italy to create a
single broadband communications network that can guarantee
neutrality and independence for all players.

In August, Rome signed off on a plan to create a national
unified fast broadband network designed in part to head off
concern that Telecom Italia (TIM), Italy's biggest
phone group, could end up with too much sway over it.

Leaders of the three companies met on Monday with the chief
executives of state lender CDP and TIM.

"The three CEOs hope the network plan can be developed in
line with its premises, giving rise to a non-vertically
integrated operator," they said in a joint statement.

TIM, with a large retail client division, has repeatedly
said it wants to control any single grid while European
regulations favour the adoption of a non-vertically integrated
model outside TIM’s control.

Under the government's plan, TIM could have a majority of
shares but would not have control of the board, while the grid
would have to be open to all operators and acceptable to
regulators.

Last week EU antitrust chief Margrethe Vestager declined to
comment on the plan to create a single network through the
merger of TIM's grid assets and those of smaller wholesale-only
rival Open Fiber.

"One can imagine that you have a nationwide wholesaler. That
is definitely imaginable ... The question of course is (whether)
that is an independent wholesaler or the wholesaler also has
ties vertically to retailers," Vestager said.

"That would be a competition assessment and that would be
our approach no matter what country it would be concerned with,”
she said.
(Reporting by Stephen Jewkes and Elvira Pollina; Editing by Dan
Grebler)

Related Shares

More News
16 May 2024 11:26

Deutsche Telekom's strong Europe growth helps core earnings rise

May 16 (Reuters) - Deutsche Telekom reported first-quarter adjusted core earnings of 10.5 billion euros ($11.43 billion) on Thursday, with Europe a ...

16 May 2024 09:57

LONDON BROKER RATINGS: Barclays raises Travis Perkins to 'overweight'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:

15 May 2024 10:09

TOP NEWS: Vodafone commences EUR500 million share buyback programme

(Alliance News) - Vodafone Group PLC on Wednesday said it began a share buyback programme of up to EUR500 million, a day after saying it would begin a...

15 May 2024 09:22

LONDON BROKER RATINGS: JPMorgan puts B&M on 'negative catalyst watch'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

15 May 2024 07:44

LONDON BRIEFING: Stocks set to see gains ahead of US inflation data

(Alliance News) - Stocks in London are called higher, as investors shrug off nerves ahead of a key US inflation reading.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.