Telecom Italia: the Autonomous Province of Trento leaves the Trentino Ngn initiative

02/03/2014 - 07:45 PM

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Decision by February on whether McLink S.p.A. and La Finanziaria Trentina S.p.A. will remain.

Telecom Italia announces that the Autonomous Province of Trento exits from the capital of Trentino Ngn, the public-private company formed in 2011 to create a fibre optic network in the territory of Trentino.

The decision was made given the extended period of waiting and of not being operative following the investigation started by the European Commission in July 2012.

The exit of the Autonomy Province of Trento from the company has been communicated to the European Commission and therefore the motives that had led to the investigation fail.

On the basis of agreements between the parties the share of the Autonomous Province of Trento (52.2%) will be settled.

By February, an assessment will be made with the other shareholders McLink S.p.A. and La Finanziaria Trentina S.p.A., on whether they shall maintain their respective shares or not and the new governance of the company shall be defined.

 

Rome, 3 February 2014