Macquarie and CDP win EU approval for Open Fiber acquisition

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MILAN, Nov 11 (Businesshala) – The acquisition of broadband network company OpenFiber by Italian state lender Casa Depositi e Prestiti (CDP) and Australian fund Macquarie has received EU regulatory approval, a filing on the European Commission website showed on Thursday. Went.

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The deal does not raise serious doubts over its compatibility with the common market, the EU’s antitrust watchdog said, confirming what sources told Businesshala on Monday.

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State-controlled Enel (ENEI.MI) and CDP currently have joint control of Open Fiber, which was set up for the rollout of fiber optic cables to help Italy catch up with the rest of Europe.

The deal would increase CDP’s OpenFiber stake from 10% to 60% while Macquarie would acquire 40%.

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Sources told Businesshala on Monday that the approval could help in the long-term plan to merge OpenFiber’s network with Telecom Italia (TIM) (TLIT.MI).

CDP is TIM’s second largest shareholder after French media company Vivendi (VIV.PA), which was seen by some analysts as a potential complication in obtaining EU approval for the open fiber deal.

Reporting by Francesca Landini Editing by David Goodman

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