February 26, 2020 / 4:24 PM / a month ago

Enel agrees on need to provide Italy with ultrabroadband network

MILAN (Reuters) - Italy’s Enel (ENEI.MI) said on Wednesday it agreed on the need to provide the country with an ultrabroadband network, after Economy Minister Roberto Gualtieri urged parties involved in the plan to find an agreement.

Open Fiber, jointly owned by utility Enel and state lender CDP, is spending billions of euros to build an ultrafast fibre-to-the-home (FTTH) network for consumers and businesses, including in remote areas of the country.

The government would like Telecom Italia (TLIT.MI) to join forces with Open Fiber to avoid duplicating investments and roll out a future-proof full fibre network but the two companies have failed to strike a deal to combine their assets.

Enel added in the statement it is committed to build a national broadband network and looks favourably on any move, even innovative, to speed up such a move.

Reporting by Steven Jewkes, writing by Francesca Piscioneri, editing by Giulia Segreti

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