September 13, 2012 / 3:56 PM / 5 years ago

Swisscom unit earmarks 400 mln euro for fast Italian network

ZURICH, Sept 13 (Reuters) - Swiss telecommunications company Swisscom said on Thursday its Fastweb unit will invest around 400 million euro ($515.54 million) on its fibre optic network by 2016 to bring fast internet connections to 20 percent of Italian homes.

Fastweb, which will invest some 130 million euros by the end of 2013, said its board had approved the funds required for the first stage of the expansion. ($1 = 0.7759 euros) (Reporting by Martin de Sa'Pinto)

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