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Telecom Italia can have majority of Metroweb at certain terms-CDP

Reuters - UK Focus

ROME, April 22 (Reuters) - Italian phone group Telecom Italia can be given a majority stake in partly state-owned broadband company Metroweb at proper governance conditions and if it accepts other phone operators as shareholders, CDP chairman Franco Bassanini said on Wednesday.

"If Telecom accepts the entrance of other operators it could have a majority stake from the very beginning, even though proper governance rules would have to be written," Bassanini said at an event in Rome.

Metroweb, controlled by state lender CDP (Cassa Depositi e Prestiti) and infrastructure fund F2i, is seen as a building block for a multi-billion-euro broadband plan sponsored by the Italian government. It has attracted takeover interest from Telecom Italia (Other OTC: TIAJF - news) and rival Vodafone. (Reporting by Alberto Sisto; writing by Danilo Masoni; editing by Agnieszka Flak)