Friday, May 29, 2015

Vodafone, Wind sign letter of intent for Italy fiber-optic network

Britain's Vodafone and Vimpelcom's Italian mobile phone unit Wind have signed a letter of intent with shareholders of broadband firm Metroweb to build a fiber optic network in Italy, the companies said in a joint statement.The project is open to other phone operators and investors ready to pursue the goals the Italian government has set in a multi-billion euro plan to roll out a broadband network across the country, they said in the statement on Friday.A deal would put pressure on Telecom Italia, which is going ahead with its own investment plan to upgrade its copper network and bring faster Internet connections to Italian consumers. (Reporting by Danilo Masoni, editing by Valentina Za)

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