TIM lifted by expectations of single Italian broadband network

MILAN: Telecom Italia (TIM) shares rose by 3.4% on Wednesday as investors anticipated an acceleration of talks with Open Fiber to create a single ultra-fast broadband network in Italy.

TIM on Tuesday postponed to the end of August a decision over the sale of a minority stake in its so-called secondary landline, after Rome requested it negotiates a wider deal to merge its network assets with those of Open Fiber.

A Milan-based trader said TIM’s decision to extend the deadline showed a commitment to reaching a deal with Open Fiber.