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    TIT   IT0003497168


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Italy's innovation minister plays down single network plan

06/06/2021 | 12:41pm EDT

MILAN, June 6 (Reuters) - Italy's innovation minister Vittorio Colao on Sunday played down the idea of creating a single ultra-fast broadband network, a project supported by the previous governing coalition.

Until a new government was sworn in earlier this year, Rome had been working on a national network by merging small broadband operator Open Fiber with the fixed access network assets of Telecom Italia (TIM).

Last month, however, speculation emerged about doubts inside the new coalition headed by former European Central Bank (ECB) chief Mario Draghi over the plan to speed up fibre rollout across the country.

Colao, a former CEO of telecoms group Vodafone, told a conference that the government should be the "coach" of private operators involved in creating the ultra-fast broadband network and avoid emerging as the most important player.

"We should let small and large operators find their own balance, if players don't want to play then the state will have to intervene, but we have to guarantee the interest of citizens not of specific companies," Colao said.

Rome, through state lender CDP, is the No. 2 shareholder in TIM and is set to win control of Open Fiber. (Reporting by Francesca Landini; Editing by Alexander Smith)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.07% 0.62347 Delayed Quote.-1.60%
BRITISH POUND / EURO (GBP/EUR) 0.16% 1.17464 Delayed Quote.4.55%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.14% 0.673641 Delayed Quote.4.67%
ENEL S.P.A. 0.26% 7.706 Delayed Quote.-7.03%
INDIAN RUPEE / EURO (INR/EUR) -0.09% 0.011339 Delayed Quote.1.10%
TELECOM ITALIA S.P.A. 0.51% 0.3749 Delayed Quote.-1.17%
US DOLLAR / EURO (USD/EUR) 0.18% 0.844345 Delayed Quote.2.87%
VODAFONE GROUP PLC -0.19% 117.44 Delayed Quote.-2.68%
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Sales 2021 15 731 M 18 692 M 18 692 M
Net income 2021 619 M 736 M 736 M
Net Debt 2021 21 266 M 25 270 M 25 270 M
P/E ratio 2021 13,6x
Yield 2021 2,65%
Capitalization 8 050 M 9 544 M 9 566 M
EV / Sales 2021 1,86x
EV / Sales 2022 1,84x
Nbr of Employees 52 392
Free-Float 72,3%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 0,37 €
Average target price 0,54 €
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Managers and Directors
Luigi Gubitosi Chief Executive Officer & Executive Director
Giovanni Ronca Chief Financial Officer
Salvatore Rossi Chairman
Michele Gamberini Chief Technology & Information Officer
Herculano AnÝbal Alves Chief Technology Officer
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