Telecom service provider Telecom Italia is looking at buying stake in Italian fiber optic network provider Metroweb.
The strategy of Telecom Italia, which owns Italy’s largest fixed-line network, is to avoid duplications in network investments by acquiring stake in Metroweb.
Telecom Italia is battling to cut debt of almost 27 billion euros ($37 billion), Reuters today reported.
The report said Telecom Italia CEO Marco Patuano has a mandate from the board of directors to negotiate the acquisition of infrastructure fund F2i’s stake in Metroweb.
A mandate for the deal, which would help Telecom Italia boost investments in faster networks, was given at the last board meeting.
The company intends to continue with the sale of its Italian mobile towers to invest resources in the broadband network.