April 28, 2020 / 5:38 AM / a month ago

Italy's Terna, Snam should discuss merging - industry minister to paper

MILAN, April 28 (Reuters) - Italy industry minister said it would make sense to merge gas grid operator Snam with power network operator Terna, according to an interview with financial daily Il Sole 24 published on Tuesday.

“I believe it would be fair to start discussing a merger project between Snam and Terna, which could be helped by new equity investments by (state lender) CDP,” Stefano Patuanelli told the paper.

The minister added he was in great favour of the single broadband project currently being discussed by Italy’s biggest phone group Telecom Italia and smaller broadband rival Open Fiber, adding it was “fundamental for the country”. (Reporting by Agnieszka Flak, editing by Gianluca Semeraro)

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