Italy’s single network plan weakens TIM’s control of key asset, Moody’s says

MILAN: Italy’s plan to create a broadband champion by merging Telecom Italia’s (TIM) network assets with those of state-backed rival Open Fiber weakens the former phone monopoly’s grip on a key asset, Moody’s said on Wednesday.

On Monday, TIM approved a 1.8 billion euro sale to U.S. investment firm KKR of a 37.5% stake in a newly-created unit where it plans to fold its ‘secondary’ network connecting street cabinets to people’s homes.