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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here

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To: Frank A. Coluccio who wrote (11909)	9/20/2001 2:26:23 AM
From: elmatador	of 12823

Italy mulls splitting off fixed-line network By Reuters staff 19 September 2001 Italy is studying plans to split its fixed-line telephone network away from Telecom Italia and create a separate company open to new shareholders, the communications minister said on Tuesday. "That is one of the roads we are studying," Minister Maurizio Gasparri told reporters outside parliament, confirming what a ministry source had earlier told Reuters. "We need to discuss it with the operators, but it is definitely an objective. We need to take into account the market and share price movements, however," Gasparri said. The ministry source said earlier that separating the network from former monopoly Telecom Italia would see the creation of a new company. "The ministry is evaluating the separation of the fixed network of Telecom Italia and is studying the possibility that ownership of this new company could be open to other shareholders," he said. "The government hasn't decided anything, but it is an idea that is being worked on by the Ministry of Telecommunications with a medium to long term view," the source added. Telecom Italia, which was taken over by a consortium led by cables-maker Pirelli in July, is the sole owner of the network and rents out space to its competitors, who have complained about the high cost of line rental. The source also said that any plans for splitting off the network would have to take into account recent share performance - Telecom Italia's share price has fallen sharply since the Pirelli takeover and in the wake of recent market turmoil. As well as owning the network and providing assorted fixed-line telecommunications services, Telecom Italia is the main shareholder in TIM, Italy's leading mobile network. COMMENTS: Now that telcos know that local loop is not good for much in the future they want a sucker to buy the obsolete stuff.

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