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Telecom Italia offers EUR 820 mln in cash for Metroweb

2016-05-10 08:38:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has tabled a formal EUR 820 million all-cash offer to acquire Milan-based fibre provider Metroweb, according to an unnamed source cited by Reuters. Metroweb is currently owned by state-lender Cassa Depositi e Prestiti (CDP) and infrastructure fund F2i, with Swisscom subsidiary Fastweb also retaining a minority stake, and the report indicates Telecom Italia is prepared to buy 100 percent of the company or a two-thirds controlling stake. Telecom Italia's bid pits it against utility giant Enel, which has reportedly offered around EUR 400 million for the 54 percent stake in Metroweb owned by F2i, valuing the broadband provider at EUR 776 million.

Tags: offers eur cash italia

Category:Telecommunications

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