03 December 2021
  • The Board is chaired by Barbara Marinali. Mario Rossetti new Chief Executive Officer 
  • The 2022-2031 Business Plan is approved. Fiber optic coverage extended to grey areasGrey Areas Grey Areas are those in which there is only one Network Operator providing ultra-broadband services and it is unlikely that another network will be installed.. Agreement reached to extend funding to over 7 billion euro

Rome, 3 December 2021 – Today saw the completion of the sale and purchase of Enel’s stake in Open Fiber (OF), as a result of which OF is directly controlled by Open Fiber Holdings, 60% owned by CDP Equity (CDPE) and 40% by Macquarie Asset Management (MAM).

Following the change of control, the Open Fiber Shareholders’ Meeting met and appointed the new Board of Directors, consisting of Barbara Marinali (Chairwoman), Mario Rossetti (CEO), Roberta Battaglia, Nathan Luckey, Geoff Shakespeare and Alessandro Tonetti. The Shareholders’ Meeting also appointed the new Board of Statutory Auditors, comprising Angelo Colombo (Chairman), Eugenio Pinto and Simona Arduini (Standing Auditors). 

Shareholders thanked the outgoing Board of Directors. Open Fiber will appoint former Chairman Franco Bassanini as Senior Advisor.

In its first meeting, the new Board of Directors approved the 2022-2031 Business Plan, which aims to cover the entire country through the completion of works in black areasBlack Areas Black Areas are those in which there are, or will be in the near future, at least two different providers of ultra-broadband network services and the provision is taking place under competitive conditions. (clusters A and B) and white areasWhite Areas White Areas are those where private operators have not deemed it worthwhile to invest and therefore lack broadband and ultra-broadband infrastructure. (clusters C and D) and the coverage of grey areas, beginning with bids in the tenders to be called by the Government under the PNRR. 

To meet the new Business Plan targets, the Board of Directors approved the agreement reached with Banca Santander, Banco BPM, BNP Paribas, Crédit Agricole, ING Bank, Intesa, Société Général and Unicredit which secures committed credit lines of 7.175 billion euro. 

This represents the biggest ever infrastructure funding deal in EMEA telecommunications networks and gives OF the resources and flexibility needed to accelerate and complete the works in progress and further extend its presence across the country.

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