TIM (formerly Telecom Italia) is considering a potential cash offer for a 40% stake in the Milan-based fibre network operator Metroweb. A report from Bloomberg, which cites ‘two people familiar with the matter’, says TIM’s board is meeting on 16 October to discuss the move. The sources suggested that TIM would subsequently look to increase its stake in Metroweb to 60% and then take full control.
TIM was linked as a possible buyer for Metroweb earlier this year, but discussions broke down in April. It has been suggested that the Italian government – which has an indirect interest in Metroweb via its investment company Cassa Depositi e Prestiti (CDP) – could use the Milan-based firm as a vehicle to push ahead with its plan to roll out ultra high speed broadband networks across the country, in partnership with TIM and alternative telcos such as Wind Telecomunicazioni and Vodafone Italy.