Macquarie and CDP win EU approval for Open Fiber acquisition – Telco/ISP

The acquisition of broadband community enterprise Open Fiber by Italy’s point out lender Cassa Depositi e Prestiti (CDP) and Australian fund Macquarie has gained EU regulatory acceptance, a submitting on the European Commission web site confirmed on Thursday.

The offer does not raise critical doubts in excess of its compatibility with the typical industry, the EU antitrust watchdog claimed, confirming what resources advised Reuters on Monday.

State-controlled Enel and CDP currently have joint command of Open Fiber, which had been established up for the rollout of fibre optic cables to aid Italy to capture up with the rest of Europe.

The offer will improve CDP’s Open Fiber stake by 10 percent to 60 percent even though Macquarie will purchase 40 percent.

The acceptance could aid with a extended-mooted plan to merge Open Fiber’s community with that of Telecom Italia (TIM), resources advised Reuters on Monday.

CDP is TIM’s next-most important shareholder powering French media enterprise Vivendi, which some analysts had viewed as a likely complication in getting EU acceptance for the Open Fiber offer.

Maria J. Danford

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