Telecom Italia has renewed its interest in Milan-based fibre-optic operator Metroweb after Vodafone made its move for the company.
Unnamed sources cited by Reuters this week claimed Telecom Italia’s board planned to discuss the matter again at a meeting on Thursday after talks with Metroweb earlier this year broke down due to disagreements over the structure of the deal.
Metroweb operates a 7,200-kilometre dark fibre network in Milan, leasing access to telecom service providers.
It is controlled by infrastructure fund F2i, which owns a 53.8% stake in Metroweb Italia, which in turn owns 87.7% of Metroweb. Fondo Strategico Italiano owns the other 46.2% of Metroweb Italia. A controlling stake in the company is thought to be worth around €400 million.
The Italian incumbent was linked with a move for Metroweb in October 2014, and reportedly sent an expression of interest regarding a controlling stake in the company in November.
"There could be an opportunity" to revive talks, said one source quoted by Reuters on Wednesday.
The renewed interest emerged after a Bloomberg report earlier in March claimed that Vodafone Italy had reached a preliminary agreement to buy a stake in Metroweb. The telco, which has also been showing interest in Metroweb since the end of last year, is alleged to have signed a letter of intent to negotiate a deal with F2i.
