September 6, 2019 / 11:11 AM / 5 months ago

Enel CEO says merging Open Fiber, TIM broadband assets is not top priority

FILE PHOTO: The new logo of Italy's biggest utility Enel is seen inside its flagship store in downtown Milan, Italy, May 4, 2018. REUTERS/Stefano Rellandini

CERNOBBIO, Italy (Reuters) - Broadband integration between Open Fiber and phone incumbent Telecom Italia (TLIT.MI) is not a top priority, one of Open Fiber’s main shareholders said on Friday.

“This idea is not super urgent,” the head of utility Enel (ENEI.MI) Francesco Starace told the Ambrosetti business forum in Cernobbio.

Enel jointly controls wholesale-only broadband player Open Fiber alongside of state lender Cassa Depositi e Prestiti.

Rome is keen to create a single ultrafast broadband operator by merging TIM’s network with Open Fiber to avoid duplicating investments.

Reporting by Giancarlo Navach, writing by Stephen Jewkes

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