Enel to Invest $2.5 Billion in Building Fiber Network in Italy

Mar 30, 2016 635

Enel SpA, Italy's largest utility, plans to invest about 2.5 billion euros ($2.8 billion) to build a fiber-optic broadband network across the country in a move that could pit it against Telecom Italia SpA.

Enel aims to cover 224 cities in phases with the broadband service, selling wholesale capacity on the network to telecommunications carriers, according to a statement from the company Wednesday. Enel said its board has discussed a partnership with Vodafone Group Plc and VimpelCom Ltd. unit Wind Telecomunicazioni SpA and is open to working with any retail carrier.

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Source: http://www.bloomberg.com/

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