TI looking at EUR8-9 billion spend

23 Oct 2006

Telecom Italia’s CEO says the firm is expecting to invest between EUR8 billion and EUR9 billion (USD10.1 billion and USD 11.4 billion) over the next ten years to improve its networks. Riccardo Ruggiero also told local newspaper Corriere della Sera that the company’s content distribution deal with News Corp has been shelved. He commented: ‘The agreement with (Rupert) Murdoch (News Corp chairman) could have certainly had an important value. However, the fact that is has vanished does not prejudice our plans to distribute content on various platforms, including fixed and mobile.’ Telecom Italia announced a controversial plan last month to separate its wireline and wireless businesses, allowing it to concentrate on the delivery of media content over fixed broadband networks.