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Broadband

TIM declined request to sell Sparkle to buy Metroweb - CEO

Thursday 29 June 2017 | 10:00 CET | News
Telecom Italia (TIM) was asked to sell its international operator Sparkle to be allowed to acquire a 51 percent stake in Milan-based fibre provider Metroweb last year, according to TIM CEO Flavio Cattaneo. The company reportedly ended up tabling a formal EUR 820 million all-cash offer to acquire Metroweb but ended up losing the battle to a rival bid from the Open Fiber wholesale-only venture of Italian utility Enel and state lender CDP. "You have one company with revenues of EUR 100 million (Metroweb) and another with EUR 1.3 billion (Sparkle) ... it was clear I could not agree," said the

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Categories: Fixed
Companies: Metroweb / Open Fiber / Telecom Italia / TIM
Countries: Italy
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