Telecom Italia CEO supports EU's potential consolidation to address Europe's excessive number of phone carriers, enabling investment in 5G networks; company prepares for mergers, finalizing landline network sale to KKR.

Telecom Italia CEO Pietro Labriola has expressed his support for a possible shift in the European regulatory approach, which may favor mergers within the telecommunications industry to facilitate the deployment of 5G networks. Labriola believes that the European market currently has too many phone carriers compared to the US, which affects their ability to make investments. Telecom Italia is in the process of selling its landline network to KKR & Co. for up to €22 billion ($23.6 billion), marking a first for any European carrier.

February 15, 2024
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