Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Telecom Italia shares drop as uncertainty clouds single network project

Stock MarketsMar 19, 2021 09:40
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan

MILAN (Reuters) - Shares in Telecom Italia (MI:TLIT) fell 5% with traders in Milan citing uncertainty over the single broadband network project after comments in past days by ministers in the government led by Mario Draghi.

Rome has been trying to create a national network by merging Open Fiber, a small broadband operator owned by state lender CDP and utility Enel (MI:ENEI), with the landline grid assets of former phone monopoly Telecom Italia (TIM).

But the plan, for which TIM and CDP struck a preliminary accord last year, has not been finalised yet as negotiations between parties stalled.

"There is contrasting news and a bit of confusion regarding the single-network project," a Milan-based trader said.

The stock was the top loser on Italy's blue chip index, down 4.67% at 0900 GMT.

Industry Minister Giancarlo Giorgetti said on Wednesday Italy will re-examine the previous government's planned single broadband network project to ensure it is feasible, adding it would make sense only if the network were under state control.

Innovation minister Vittorio Colao on Thursday called for the stalemate over the long-delayed project to be resolved as soon as possible in order to avoid holding up its broadband rollout plan.

He also said the government was considering alternative options to ensure super fast broadband connection across the whole country by 2026.

Telecom Italia shares drop as uncertainty clouds single network project
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email