By Giuseppe Fonte and Stephen Jewkes

ROME\/MILAN: Italy told top utility Enel<\/a> on Monday it must bear in mind in any sale of its stake in broadband<\/a> group Open Fiber<\/a> that plans to create a national ultra-fast network are a matter of urgency and cannot be delayed.

Enel, which jointly controls Open Fiber with state lender CDP, received a binding bid from Australia's Macquarie in September for all or part of its 50% stake.

But Rome, which is looking to merge phone incumbent
Telecom Italia<\/a>'s landline grid with Open Fiber, has urged the fund to buy less than 50% so CDP can take control.

In a letter to the utility's top management, the economy and
industry<\/a> ministers said plans to create a unified broadband infrastructure independent of TIM and open equally to all market players were of strategic importance for Italy.

A source familiar with the matter said Rome wanted Enel to ensure CDP had control of Open Fiber if the utility sold its stake.

\"The terms of any sale must fit in with the government blueprint for creating a single network,\" the source said.

Enel CEO Francesco Starace is expected to read the ministers' letter to an
Enel board<\/a> that met on Monday to approve the utility's new business plan.

Enel declined to comment.

CDP, which has a right of first refusal on the Enel stake if it sells, has asked to raise its stake to 60%, sources have said, in a move that would leave Macquarie the option of buying the remaining 40%.

The government is urging Enel to comply with its plans, but wants Starace to guarantee Macquarie's bid contains no conditions that could run against the grain of the blueprint.

The Macquarie bid, which values Open Fiber at more than 7 billion euros ($8.3 billion) including debt, contains a series of conditions including earn out clauses.

State-controlled Enel did not sign off on a Memorandum of Understanding (MOU) ratified by TIM and CDP in August, setting out a road map for the creation of a unified fast
broadband network<\/a>.

TIM has said it wants to keep a majority stake in any single network operator but Starace says any such infrastructure should remain outside the control of a vertically-integrated incumbent with a big retail business.

Enel has a board meeting on Dec. 17, people familiar with the matter said.
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告诉意大利Enel计划创建全国宽带网络不能推迟

意大利周一告诉最高效用Enel必须牢记在任何宽带集团出售其股份打开计划创建一个国家超高速光纤网络的紧迫感,不能延迟。

  • 更新于2020年11月24日08:48点坚持
阅读: 100年行业专业人士
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由朱塞佩·丰特和史蒂芬Jewkes

罗马/米兰:意大利告诉最高效用埃奈尔周一必须牢记在任何出售股份宽带集团开放的纤维计划创建一个国家超高速网络的紧迫感,不能延迟。

埃奈尔,共同控制开放与国家银行CDP纤维,收到9月澳大利亚麦格理的约束力收购全部或部分的50%的股份。

但罗马希望合并电话现任意大利电信的固定网格张开纤维,敦促该基金购买不到50%所以CDP可以控制。

在一封给效用最大的管理、经济和行业部长说计划创建一个统一的宽带基础设施独立蒂姆和开放同样为所有市场参与者都具有战略重要性的意大利。

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一位知情人士表示,罗马希望埃奈尔,以确保CDP控制开放纤维如果效用出售股份。

“任何出售的条款必须符合政府创建一个网络蓝图,”该消息人士称。

Enel首席执行官Francesco Starace预计读到一个部长的信意大利国家电力公司董事会符合周一批准效用的新商业计划。

埃奈尔拒绝置评。

CDP,对优先购买权的Enel如果它出售股份,已要求其持股比例提高到60%,消息人士说,此举将使麦格理的选择购买剩下的40%。

政府敦促Enel遵守它的计划,但希望Starace保证麦格理的报价不包含任何条件,可以运行格格不入的蓝图。

麦格理(Macquarie)的出价,价值观开放纤维超过70亿欧元(83亿美元)(包括债务,包含一系列的条件包括收入条款。

国有Enel没有签署一项谅解备忘录(MOU)批准蒂姆和CDP, 8月份出发的路线图的创建一个统一的快宽带网络

蒂姆曾表示,希望保持任何一个网络运营商的多数股权但Starace表示,任何此类基础设施应保持在控制地产现任大零售业务。

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埃奈尔有一个董事会会议12月17日,知情人士说。

  • 发布于2020年11月24日,时间为我坚持
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By Giuseppe Fonte and Stephen Jewkes

ROME\/MILAN: Italy told top utility Enel<\/a> on Monday it must bear in mind in any sale of its stake in broadband<\/a> group Open Fiber<\/a> that plans to create a national ultra-fast network are a matter of urgency and cannot be delayed.

Enel, which jointly controls Open Fiber with state lender CDP, received a binding bid from Australia's Macquarie in September for all or part of its 50% stake.

But Rome, which is looking to merge phone incumbent
Telecom Italia<\/a>'s landline grid with Open Fiber, has urged the fund to buy less than 50% so CDP can take control.

In a letter to the utility's top management, the economy and
industry<\/a> ministers said plans to create a unified broadband infrastructure independent of TIM and open equally to all market players were of strategic importance for Italy.

A source familiar with the matter said Rome wanted Enel to ensure CDP had control of Open Fiber if the utility sold its stake.

\"The terms of any sale must fit in with the government blueprint for creating a single network,\" the source said.

Enel CEO Francesco Starace is expected to read the ministers' letter to an
Enel board<\/a> that met on Monday to approve the utility's new business plan.

Enel declined to comment.

CDP, which has a right of first refusal on the Enel stake if it sells, has asked to raise its stake to 60%, sources have said, in a move that would leave Macquarie the option of buying the remaining 40%.

The government is urging Enel to comply with its plans, but wants Starace to guarantee Macquarie's bid contains no conditions that could run against the grain of the blueprint.

The Macquarie bid, which values Open Fiber at more than 7 billion euros ($8.3 billion) including debt, contains a series of conditions including earn out clauses.

State-controlled Enel did not sign off on a Memorandum of Understanding (MOU) ratified by TIM and CDP in August, setting out a road map for the creation of a unified fast
broadband network<\/a>.

TIM has said it wants to keep a majority stake in any single network operator but Starace says any such infrastructure should remain outside the control of a vertically-integrated incumbent with a big retail business.

Enel has a board meeting on Dec. 17, people familiar with the matter said.
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