FIXED UPDATE 1-Italy wants open fiber control in broadband deployment drive – sources

(Correct the name in the 9th paragraph to Giovanni Gorno Tempini)

* The CDP will not exercise pre-emption on the Open Fiber participation sources

* CDP wants 10% stake in Open Fiber to gain control sources

* TIM board list includes CDP president – source

ROME / MILAN, Feb.22 (Reuters) – Italian state lender Cassa Depositi e Prestiti (CDP) wants to increase its stake in Open Fiber to 60% to take control of the broadband company, sources said, so as Rome continues its plans to boost super-fast connectivity across the country.

The CDP will not exercise a pre-emptive right on a 50% public service that Enel sells in Open Fiber but wants to increase its own stake to 60%, said two sources familiar with the matter.

Enel, which jointly owns Open Fiber with CDP, is in talks to sell 40-50% of the fiber infrastructure group to Australia’s Macquarie fund by June.

Under the deal, Macquarie would pay € 2.65 billion ($ 3.2 billion) for a 50% stake, though any final price could fluctuate based on a series of top-up clauses. price.

The sources said CDP would give up its pre-emptive right but start talks to buy a 10% stake in Open Fiber from Enel and negotiate governance rights with Macquarie to gain full control.

The former Italian Minister of the Economy, Roberto Gualtieri, had tried to create a national network entirely in fiber by merging Open Fiber with the fixed assets of Telecom Italia (TIM).

The new Prime Minister Mario Draghi has placed digital infrastructures at the heart of his government’s agenda, but he has yet to specify whether he intends to implement the unified network project and under what conditions.

Controlled by the Treasury, CDP is TIM’s second largest shareholder behind French media giant Vivendi, but has never held a seat on the board of directors.

A third source said on Monday that the slate of candidates Telecom Italia would present for its new board at the annual general meeting would include CDP chairman Giovanni Gorno Tempini.

TIM will unveil the slate on Tuesday. The source said the CDP may call a new council on Thursday to discuss its support for the list.

Telecom Italia and CDP declined to comment while Enel was not immediately available for comment. ($ 1 = 0.8229 euros) (Reporting by Giuseppe Fonte, Stephen Jewkes, Elvira Pollina; Editing by Richard Chang)

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