Swisscom To Invest EUR400 Million In Italy Broadband Network
September 13 2012 - 11:40AM
Dow Jones News
Telecommunications company Swisscom AG (SCMN.VX) Thursday said
it will invest 400 million Euros by 2016 to expand the broadband
infrastructure of its Italian subsidiary Fastweb.
MAIN FACTS:
- Fastweb will continue to invest in fibre-optic expansion in
Italy over the coming years in order to expand its own
infrastructure and increase competitiveness.
- Fastweb is focusing on rolling out fibre-to-the-street (FTTS)
to complement its existing fibre to the home (FTTH) network.
- Fastweb's modern fibreoptic network has already rolled out
fibre to-the-home to around two million households in Italy's urban
areas.
- Fastweb plans to invest some EUR 130 million in FTTS expansion
by the end of 2013 and thus significantly expand its own
fibre-optic infrastructure.
- In total around EUR400 million will be invested by 2016 in the
further expansion of Italy's FTTS infrastructure in order to
provide faster broadband to around 20% of Italy's homes.
- Swisscom's board of directors support Fastweb's plans and
Thursday approved the funds required for the first stage of
expansion.
- The additional investments will not affect Swisscom's dividend
payout policy or the CHF 2.2 billion of investment scheduled for
this year, the company said.
-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47;
zurichdjnews@dowjones.com
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