CDP is expected to play a central role in the proposed creation of a single national network after becoming TIM's second largest shareholder earlier this year. The plan being discussed would allow it to raise its stake from around 9.9 percent to between 20 and 25 percent, compared to Vivendi’s stake of 23.9 percent, added the report. The French company has previously commented that it may be prepared to support a merger of Open Fiber with Telecom Italia if the conditions are right and TIM retains control of the resulting network company.
The report adds that, if it goes ahead, the plan would inevitably prompt a reshuffle in TIM, as Vivendi and activist fund Elliott would be diluted. Luigi Gubitosi, an Elliott-nominated director appointed TIM CEO last year, recently told reporters that negotiations between TIM and Open Fiber are “quite advanced” and that the merger of their respective fixed broadband networks would be "a positive step for both companies".
