Telecom Italia Said to Weigh Revamp as $4 Billion Costs Loom
This article is for subscribers only.
Telecom Italia SpA is considering a reorganization of the business that leases its landline network to rivals to avoid as much as 4 billion euros ($4.4 billion) in possible antitrust fines and damages, according to people familiar with the matter.
The plan would involve folding the OpenAccess unit, which guarantees so-called equality of access to rivals, into the wholesale business, creating an entity similar to BT Group Plc’s Openreach, said the people, asking not to be identified because the deliberations are confidential. The board is set to review the proposal when it meets Aug. 6 to discuss second-quarter earnings, the people said.