Project unique web network in the hands of the state that is being implemented through a amendment to the tax regulation which will support integration between networks Telekom i of Open the fiber. It was postponed Emiliano Fenu from the 5 Star MoVement, the rapporteur of this provision shall assign Communications Supervisor (AgCom, "public" entity) role of the judge of this match. The guarantor – although on an "exceptional basis" – may require companies such as Telekom to separate from their network of cables. It is easy to adopt this shock therapy in two cases: when Internet companies (such as Telekom and Open Fiber) are building a fiber optic network in exactly the same areas of the country thus losing resources; and when an entity (like Telekom) has a network that is so powerful that it compromises the "autonomy of competing companies".
Telekom, the only network in the hands of the state
This means two current states. That is why the move became the most concen- trated in the approach to the project of a web-based web that the 5 Star Mement and the League lied for a while and that Amos Genis's resignation could only help speed up. And if it was not clear enough to go in that direction, just add it to the amendment The guarantor may alternatively encourage different Internet companies to connect their cable networks to a "voluntary" way. Explain today Aldo Fontanarosa in the republic that at the end of the game these rules should be made by networks Open the fiber i of Telecom Italia within the framework of a joint society that is – envisaged – will also participate Cassa deposits will be canceled (50% of Open Fiber owners). La Cassa, 82.77% controlled by the Ministry of Economy, is the second "public" entity that is called at the forefront of the network unification operation.
And the newspaper adds that in this scenario, The Guarantor decides on the new price that competing companies will have to pay to Telecom Italia (now, beginning in 2018) to rent a network. Rental covers, in particular, lines for a medium-quality Internet connection (Fttc) that come in the gray closet street (and not to the customer's home). The lease price is 15.02 euros per leased line per month. At this point, the Guarantor is oriented not to reduce this price for 2018, it meditates to leave unchanged. News disappointed competing pay companies. Instead of Telekom – if things end up like this – they will get significant help on the road that will lead to a single network.
Marriage between Open Fiber and Telecom
For the future, governments are envisioning the regulatory mechanism they introduce also for the network tlc la Rab (regulatory fixed assets). In short, system of incentives – through tariffs – to compensate for investments. Along with the lines of what is happening to Tern and Snam, both are examples of success. One national network would, in the intent of the executive, provide access to everyone at prices that everyone can support. But the problem is, as is easy to imagine, separation of the Telecom-Tim network which could technically be problematic and legal in the Brussels station. Then it is unknown vivendi: while for the shareholder Eliot, the idea is good because France is still a problem of depleting the property they have invested.
In determining incentive tariffs, the Competent Authority takes into account, inter alia, the factors "historical cost of investments in relation to transmission networks of access", "best practices", but also – "separate company labor" (ie, specifies an illustrative report, "the impact of the operation aggregation in terms of employment »). The "social cost" of the operation will run on the market?
The state game is Elliott
The state sword passes with that in the fund elliott, who hunted with ok Cassa Depositi e Prestiti Managing Director. Genis, however, makes the climate difficult in the governing board vivendi which began to deal with legal struggle. But today, Alessandro Penati writes about the Sole 24 hand, because the team is now only the choice of what death dies:
But Elliot can not be a long-term reference shareholder and wants to maximize return on your investment. In fact, it saw an opportunity for arbitration between the value of a network within a telephone company, which in Europe is worth 6 times more than the EBITDA average, as well as from a special network into a regulated public utility company, worth at least 11 times (Terna, Snam). The Ebitda Tim team that could be sold and assigned in a separate Open Fiber company could be located between at least 800 million Team's wholesale businesses, to around 1.2 billion.
With a multiple of 11, the value of the company would be 11/13 billion, mainly due to the fact that Tim could decontroll. Spin-off and network sales are finding the interest of Cdp and Enela: they would connect with Open Fiber not to take 5 billion planned investments (over 1.6 allocated by the state) for a risky project, given the unrealistic goal of 500 million Ebitda of 4 million customers in 2022 (The team has 3 million FTTH connections). We add synergies to the investments of one network, plus the desire to be an entrepreneur to the State of the current Government and it seems that the game has been done.
In the meantime, the Board of Directors decides for the Executive Director: it runs Luigi Gubitosi i Alfredo Altavilla. The first will thus leave Alitalia for a much more stimulating project.