Telecom Italia looking at 100% control of Metroweb, including Milan subsidiary
Telecom Italia (TI) is looking for 100% control of Metroweb, the fibre optic operator, Il Sole 24 Ore reported. The Italian language report cited TI CEO Flavio Cattaneo who said that this would include complete control of Metroweb SpA, Metroweb's Milan subsidiary.
The item cited Cattaneo as noting that talks on the conditions of the sale were presently taking place with CdP, the holding of the Italian Treasury, which holds 46% of Metroweb.
TI is proposing to acquire CdP's stake in exchange for a 25% stake in Telecom Italia Sparkle, its subsidiary that owns undersea fibre optic cables in the Mediterranean, as previously reported.
TI would then buy the 56% stake held by infrastructure fund F2i for EUR 530m.
Il Sole 24 Ore