By Manuela Mesco
MILAN--Italy's telecommunications giant Telecom Italia (TIT.MI,
TI)) and internet company Fastweb, controlled by Switzerland's
Swisscom AG (SCMN.VX), have signed a memorandum of understanding to
develop the fiber optic network in Italy, the companies said
Friday.
The two companies will share costs and investments in
infrastructure construction, but "will retain total freedom and
autonomy in the development of their own network platforms,
technology decisions and commerical offerings," the statement
said.
On Thursday, Fastweb announced a EUR400 million investment plan
to bring fiber optic technology to 20% of Italian companies and
families by 2014.
Telecom Italia's Chief Operating Officer Marco Patuano commented
in the statement that the incumbent's plan is to reach 100 cities
by 2014.
Write to Manuela Mesco at manuela.mesco@dowjones.com
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