- Telecom Italia (TI -1.3%) is looking to avoid up to €4B (about $4.4B) in antitrust charges via a reorganization of the unit that leases its wireline network to competitors -- including Vodafone (NASDAQ:VOD), which is seeking more than €1B in damages, Bloomberg reports.
- The plan would be modeled after what BT Group has done in the UK with Openreach: folding its OpenAccess unit into its wholesale business.
- The board is reportedly set to review the plan at a meeting on Thursday. TI has reportedly made provisions, including one-time items of €309M in Q2, to address antitrust concerns.
- Telecom competitor Fastweb SpA --owned by Swisscom (OTCPK:SCMWY) -- is also pursuing remedies against TI, to the tune of €1.7B.
- The proposal would have TI buying wholesale capacity from OpenAccess just as its rivals do, and the wholesale group would have total oversight over OpenAccess.