December 5, 2018 / 3:58 PM / 6 months ago

Italy state lender not thinking of raising Telecom Italia stake

ROME, Dec 5 (Reuters) - Italy’s state lender Cassa Depositi e Prestiti (CDP) is not thinking of raising its stake in Telecom Italia (TIM), CDP chairman Massimo Tononi said on Wednesday.

CDP, which owns 50 percent of wholesale broadband company Open Fiber, has just under 5 percent of TIM.

Speaking at the presentation of the lender’s 2019-2021 business plan, Tononi said a government proposal to create a single fast broadband operator was “reasonable”.

He said investing in two separate networks would be a waste of resources. But he added the creation of a single network would depend on the companies involved.

The Italian government has introduced measures to help create a single broadband infrastructure company that could combine the networks of TIM and Open Fiber, which is 50 percent owned by utility Enel.

Reporting by Stefano Bernabei, writing by Stephen Jewkes

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