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Enel accelerates fibre plans with Metroweb takeover
2016-07-29 13:06:00| Telecompaper Headlines
(Telecompaper) Enel said its its Enel Open Fiber (EOF) wholesale broadband business agreed to acquire competitor Metroweb, allowing the group to accelerate its plan to roll out a high-speed broadband network all over Italy in competition with Telecom Italia. Under the deal, Enel and existing Metroweb shareholder, the state lender Cassa Depositi e Prestiti (CDP) Equity (CDPE), will each hold a 50 percent stake in the combined EOF/Metroweb entity. Enel and CDPE will each participate in a EUR 714 million capital increase for EOF which will use the proceeds to acquire all shares in Metroweb, Enel said in a statement.
Tags: plans
fibre
takeover
accelerates
Category:Telecommunications