Telecom Italia is considering spinning off its fixed-line network. "It is one of several studies we conduct to identify the best solutions to increase Telecom's value," executive chairman Franco Bernabe said in an interview with business daily Il Sole 24 Ore. "If a (spin-off) creates a more favourable regulatory environment, it's an hypothesis that we could take into consideration." The paper earlier cited an internal document from the operator studying the possible creation of a wholesale access operator for the fixed network. The study considers three possible scenarios: a spin-off and transfer of the business to a company controlled by Telecom Italia, a proportional demerger or the disposal of assets to a new or existing company, in which Telecom Italia would hold a stake. Possible investors in the new company could include Italian state-controlled investment group Cassa Depositi e Prestiti or the fibre operator Metroweb. Selling a stake in the fixed network, which is valued at up to EUR 15 billion, could help the operator achieve its debt-reduction targets.
