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Enel CEO rules out merger of fiber business with Telecom Italia

Published 07/27/2017, 01:54 PM
Updated 07/27/2017, 02:00 PM
© Reuters. Optical fiber cables for internet providers are seen running into a Enel Group server room in Perugia
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MILAN (Reuters) - Italy's top utility Enel (MI:ENEI) is not interested in merging its fiber-optic infrastructure business with that of Telecom Italia (MI:TLIT), CEO Francesco Starace said on Thursday.

"I am completely against a merger with Telecom Italia, it's completely useless and has no merit whatsoever," Starace said in a conference call.

Enel and Telecom Italia are rolling out separate ultrafast broadband networks in Italy and some politicians in Rome have said it might make sense for them to join forces.

"We are committed to going ahead," Starace said.

© Reuters. Optical fiber cables for internet providers are seen running into a Enel Group server room in Perugia

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