Vodafone, Wind sign letter of intent for Italy fiber-optic network
Reuters
Published May 29, 2015 12:51PM ET
Updated May 29, 2015 01:23PM ET
Vodafone, Wind sign letter of intent for Italy fiber-optic network
MILAN (Reuters) - Britain's Vodafone (NASDAQ:VOD) and Vimpelcom's Italian mobile phone unit Wind have signed a letter of intent with shareholders of broadband firm Metroweb to build a fiber optic network in Italy, the companies said in a joint statement.
The project is open to other phone operators and investors ready to pursue the goals the Italian government has set in a multi-billion euro plan to roll out a broadband network across the country, they said in the statement on Friday.
A deal would put pressure on Telecom Italia (MILAN:TLIT), which is going ahead with its own investment plan to upgrade its copper network and bring faster Internet connections to Italian consumers.
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Written By: Reuters
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