LONDON: Telecom Italia Chairman Giuseppe Recchi said on Friday its board had concluded that conditions were not in place to buy a stake in Italian fiber network provider Metroweb although the group remained interested in the asset.
"The board has had a long and serious discussion about Metroweb if opportunities to create synergies arise they are welcome, as of today conditions are not in place," Recchi told a press conference following the presentation of the group's new business plan.
In December Telecom Italia said it had proposed buying infrastructure fund F2i's controlling stake in Metroweb, in a deal that would have boosted its fiber business in Italy.
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