Swisscom sells 10.6% stake in Metroweb for EUR 80 mln

News Broadband Italy 5 AUG 2016
Swisscom sells 10.6% stake in Metroweb for EUR 80 mln

Swisscom has announced the sale of its 10.6 percent stake in Milan-based broadband provider Metroweb to the main shareholder Metroweb Italia SpA for a total of EUR 80 million. The Swiss company held the minority stake in Metroweb through its Italian subsidiary Fastweb and confirmed that commercial relations between Fastweb and Metroweb would remain in place. Swisscom said it considered the current market conditions favourable to dispose of its stake after Italian utility Enel last month agreed to acquire 100 percent of Metroweb Italia SpA for a total enterprise value including minority shareholdings of EUR 814 million.

Fastweb could have applied a veto on the Enel-Metroweb deal but its CEO Alberto Calcagno revealed to Corriere della Sera that the operator chose to divest its stake and agree a fibre deal with Telecom Italia because Fastweb is a vertically integrated operator, developing both a network and services, whereas Enel is a utility that does not plan to provide services over the network it is building. However, Calcagno added that Fastweb does not rule out using the Enel network in future in areas where it does not have its own infrastructure. 

Categories:

Fixed

Companies:

Swisscom,  Fastweb,  Telecom Italia,  Metroweb,  Enel

Countries:

Italy

Tags:

Production planning & operations, Fibre, M&A buyouts & divestments

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