Metroweb owner denies takeover interest; Vodafone joins TI in acquisition race

7 Nov 2014

Italian infrastructure fund F2i has confirmed that it has not yet received any offer for its stake in fibre-optic wholesale provider Metroweb, Reuters reports, quoting a company insider. The denial follows local media reports that Vodafone Italy is lining up a bid for the Milan-based firm. Previously, in October, it was reported that Telecom Italia (TI) had been mandated to negotiate the acquisition of a majority stake in Metroweb.

Metroweb is 87% controlled by Metroweb Italia, which is in turn 53.8%-owned by F2i and 46.2%-owned by a fund controlled by state lender Cassa Depositi e Prestiti (CDP). Meanwhile, FastWeb, the Italian broadband unit of Swisscom, owns 10.6% of Metroweb. The owners of the remaining 2.4% holding are unknown.

At 5,100km in length, Metroweb claims to have the ‘most widely extended metropolitan network in Europe’. Although the infrastructure is concentrated in Milan, it connects to some of the biggest cities in northern Italy, including: Bologna, Turin, Verona, Vicenza and Genoa.

Italy, Metroweb, Telecom Italia (TIM), Vodafone Italy