Telecom Italia Is Said to Plan $13 Billion Network Spending
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Telecom Italia SpA is planning 10 billion euros ($13 billion) in fiber-optic investments for its fixed-network unit, whose spinoff is expected to win board approval today, said two people familiar with the situation.
The spending, to be made over 10 years, will help the new network unit Opac SpA offer faster Internet access and services including high-definition video, said the people, who asked not to be identified because the plan hasn’t been made public. The investments would be funded by cash generated by the network unit as well as contributions from investors, the people said.