Fastweb losses widen

1 Sep 2005

Italian broadband telecoms services provider Fastweb saw its second quarter net losses widen to EUR79.6 million (USD97.1 million) from EUR45.5 million in 2Q04 due to bank fees related to a capital increase. Without the fees the company says the loss would have been around EUR43 million. Fastweb closed June with 598,200 clients, up from 417,500 a year earlier. FastWeb is planning to invest EUR3 billion to elevate itself to the position of Italy’s second fixed line operator, and the telco’s 16,000km network now covers more than a third of the population, and is aiming for eight million households by the end of the year. FastWeb is a wholly owned unit of e.Biscom. It offers voice telephony, video and internet access services over a fibre-to-the-premises (FTTP) network in some parts of the country, and over DSL lines rented from the incumbent where FTTP is not available.

Italy, Fastweb