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Telecom Italia ready to press on with unified network plan when Open Fiber decides - CEO

·1-min read
FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan
FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan

MILAN (Reuters) - Telecom Italia <TLIT.MI> is ready to press ahead with a government-sponsored plan to merge its fixed network infrastructure with that of state-backed rival Open Fiber, Chief Executive Luigi Gubitosi said on Wednesday.

"We are ready to proceed, as soon as Open Fiber's shareholders, I would say shareholder, takes a decision on the matter", Gubitosi told analysts in a call on third-quarter results.

He said advisers on the deal had been appointed.

Open Fiber is owned by Italian utility Enel <ENEI.MI> and Italian state lender CDP.

(Reporting by Elvira Pollina and Stephen Jewkes; editing by Agnieszka Flak)