Fastweb sees revenues rise but net income fall

17 Feb 2011

Italian broadband operator Fastweb has posted a net loss for 2010 of EUR72.4 million (USD98 million), more than twice as large as 2009’s losses. Revenue grew 1.5% year-on-year to EUR1.9 billion, but the company said its bottom line had been negatively impacted by higher taxes. According to TeleGeography’s GlobalComms Database, Fastweb is Italy’s third largest broadband operator behind Telecom Italia and Wind; it finished 2010 with an estimated 13.4% share of the broadband subscriber market. The ISP is currently in the throes of becoming a wholly owned subsidiary of Swisscom. In September 2010 the Swiss telco made an offer to acquire the remaining 17.9% of Fastweb that it did not currently own, and earlier this week it revealed it had now passed the 95% share ownership threshold. By the end of March Fastweb is expected to be de-listed.

Italy, Fastweb, Swisscom