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Italy: Telecom Italia looks to stay afloat through broadband acquisition

 |  March 20, 2014

Telecom Italia is looking to stop the trend of falling sales through a possible merger with Metroweb Italia, a network owner that could help the Italian telco strengthen its broadband services.

Unnamed sources said private merger discussions are underway for Italy’s top phone carrier to potentially acquire a less-than 50 percent stake in the broadband company, a deal that could top $413 million, reports say.

But sources also noted that the discussions were in their early stages that that no deal is guaranteed.

According to reports, Telecom Italia shares have gained 17 percent this year following eight straight years of declines.

Full Content: Bloomberg

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