Telecom Italian, Enel confirm signing NDA agreement over Open Fiber
21 JUN 2019
Telecom Italia (TIM [BIT:TIT] issued the following statement yesterday (20 June) about negotiations relating to a merger of its fibre optic network with that of Open Fiber's.
Press Release
In relation to continuous press rumours, TIM informs that it has signed a Non Disclosure Agreement (NDA) with Cassa Depositi e Prestiti (CDP) and Enel [BIT:ENEL] aimed at starting discussions to evaluate possible forms of integration between TIM’s and Open Fiber’s fibre optic networks, including corporate operations.
The objective of the discussions is to verify the feasibility of such 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.
In execution of the aforementioned Agreement the parties will subscribe to the strictest confidentiality.
Enel released the following statement shortly afterwards:
Press Release
With regards to TIM’s announcement, Enel confirms that it has signed a confidentiality agreement with the former and with CDP Equity. The agreement is aimed at starting talks to evaluate possible options for the integration of the fibre optic networks of TIM and Open Fiber, including corporate transactions.
The focus of these talks is to assess the feasibility of the transaction, the related procedures and the scope of a possible agreement, based on the will of the parties as well as the relevant legislative and regulatory framework.