(Alliance News) - Planetel Spa announced Wednesday that it has signed a multi-year framework agreement with Vodafone Italia - a subsidiary of Vodafone Group PLC - regarding the concession in IRU - Indefeasible Right of Use of certain fiber network sections.

Based on the framework agreement, the first operations to connect the base radio stations of Vodafone Italia's 4G and 5G mobile network in the provinces of Bergamo, Brescia and Verona have already been defined. Vodafone will thus be able to offer its mobile network customers a higher capacity and better latency service.

The strategic agreement is part of the broader collaboration between Planetel and leading mobile and fiber network operators with a strong local presence, for the use of existing infrastructure in the area with a view to developing synergies in the use of networks, with the intention of further enhancing Planetel's infrastructure investments and the strategic opportunities arising from such collaborations, the company explained.

Bruno Pianetti, president and CEO of Planetel, said, "We are very pleased to begin an important collaboration with a major operator such as Vodafone Italia, for the use of our ultra-fast fiber backbone. The agreement is in continuity with what we have already done for other national operators to whom our company has provided connections aimed at covering their 5G radio base stations and their FTTH access network."

"We are pleased, with this new agreement, to be able to enhance and optimize our infrastructure investments even more. Today, Planetel is a well-differentiated, publicly traded company with an established and recognized know-how, capable of creating value through telecommunications infrastructure, and we are excited about this renewed trust from the large operators that will allow us to maintain our commitment to provide quality service to our customers."

Planetel's stock is up 4.3 percent at EUR6.05 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.