Telecom Italia could eye merger with Open Fiber among options
[The fourth paragraph has been amended to reflect the valuation of Telecom Italia's landline network.]
Telecom Italia, based in Milan, Italy, could look into options for its landline network as Chief Executive Officer Luigi Gubitosi readies a strategy for the company, according to a newswire report.
Bloomberg cited people familiar with the matter as saying that Gubitosi is seeking to hire advisers regarding a possible merger with Open Fiber.
Recently, the communications regulator in Italy turned down a proposal to separate the network legally, Bloomberg reported.
Open Fiber is a Enel SpA-Cassa Depositi e Prestiti joint venture, and is a competitor for Telecom Italia, the report said, adding that Telecom Italia's landline network was valued at nearly EUR 15bn by analysts.
Elliott Management Corp and Vivendi SA are among Telecom Italia's investors, the article said.