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. 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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