Vodafone is reported to have a preliminary agreement in place to buy infrastructure fund F2i’s 53.8% stake in Italian dark fibre operator Metroweb.
The British operator has signed a letter of intent for the deal, according to three people with…
Vodafone is reported to have a preliminary agreement in place to buy infrastructure fund F2i’s 53.8% stake in Italian dark fibre operator Metroweb.
The British operator has signed a letter of intent for the deal, according to three people with knowledge of the matter cited by Bloomberg.
Vodafone could inject up to €500m (US$532m) into Metroweb, which has a fibre network in Milan, sources cited in the report said.
Vodafone and F2i were not immediately available for comment.
In recent months, Milan-based Metroweb – which is installing fibre beyond Milan to Genoa, Turin and Bologna – has been linked to deals with both Vodafone and local incumbent Telecom Italia.
An acquisition of the company by Vodafone would be a continuation of the London-listed operator’s strategy to add fixed assets to markets where it provides mobile services.
Vodafone has already acquired Cable & Wireless Worldwide in the UK, Kabel Deutschland in Germany, Ono in Spain, and HellasOnline in Greece. Italy is the largest European market where it does not have a fixed network.
However, it does have operations in Italy beyond mobile. In June 2014 Vodafone bought M2M specialist Cobra Automotive Technologies, which specialises in security and telematics, in a deal which valued the company at €145m.
