TIM shares up as state investor CDP calls for single network


FILE PHOTO The TIM logo is seen at its headquarters in Rome Italy November 22 2021. REUTERSYara Nardi

FILE PHOTO: The TIM logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi

MILAN (Reuters) - Shares in Telecom Italia (TIM) rose 2.9% on Monday after state investor CDP renewed its support for a stalled plan to merge the former phone monopoly's network assets with those of fibre optic rival Open Fiber.

Italy should quickly build a single broadband network to avoid duplicating investments as it prepares to spend European recovery funds, Giovanni Gorno Tempini, president of the Treasury-owned CDP, told Sunday's Il Sole 24 Ore daily.

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