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The new company will develop infrastructure to help Italy country reduce its digital divide
Open Fiber was born yesterday, signifying the start of a new company founded by CDP Equity and Enel that will build the infrastructure necessary to bring broadband internet to Italian homes and businesses.
Two hundred and fifty cities across Italy by 2020 will be equipped with nationally uniform broadband technology to close the competition gap with other major industrial economies.
The founding of Open Fiber will guarantee equal access to all operators in the sector – including within territories where a lack of market demand failed to attract adequate private investors - significantly reducing the Italian digital divide.
In February 2016, the European media coverage in ultra broadband above 30 Mbps equaled 68% of the population, compared with Italy’ 26%.
CDP Group's participation in Open Fiber is considered part of the Italian National Promotional Institution’s mission to support economic growth by ensuring competitiveness in the productive sectors of the country and increased efficiency in the public administration. Its investment is in line with Business Plan 2016/2020.
By the first half of 2017, Open Fiber aims to wire up to ten cities: Bari, Cagliari, Catania, Florence, Genoa, Naples, Padua, Palermo, Perugia and Venezia. The project will be completed by 2020 with over 10 million users reached.
The company will be led by Franco Bassanini as chairman and Tommaso Pompei as chief executive officer.
CDP Equity SpA, Via San Marco 21/A, 20121 Milano, Italia - email@example.com
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