Open Fiber S.p.A. (formerly Enel Open Fiber S.p.A.) is an Italian

wholesale Wholesaling or distributing is the sale of goods or merchandise to retailers; to industrial, commercial, institutional or other professional business users; or to other wholesalers (wholesale businesses) and related subordinated services. In ...

only

telecommunications company A telecommunications company is a kind of electronic communications service provider, more precisely a telecommunications service provider (TSP), that provides telecommunications services such as telephony and data communications access. Many t ...

, owned 60% by CDP Equity S.p.A. (part of the Cassa Depositi e Prestiti S.p.A. group) and 40% by

Macquarie Asset Management Macquarie Group Limited (), more commonly known as Macquarie Bank, is an Australian multinational investment banking and financial services group headquartered in Sydney and listed on the ASX (). Macquarie's investment banking division is Au ...

(part of the

Macquarie Group Limited Macquarie Group Limited (), more commonly known as Macquarie Bank, is an Australian multinational investment banking and financial services group headquartered in Sydney and listed on the ASX (). Macquarie's investment banking division is Au ...

History

Enel Open Fiber was established in December 2015, as a

wholly owned subsidiary A subsidiary, subsidiary company, or daughter company is a company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unl ...

Italian Italian(s) may refer to: * Anything of, from, or related to the people of Italy over the centuries ** Italians, a Romance ethnic group related to or simply a citizen of the Italian Republic or Italian Kingdom ** Italian language, a Romance languag ...

energy company The energy industry refers to all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy industry is a cr ...

Enel Enel S.p.A. is an Italian multinational manufacturer and distributor of electricity and gas. Enel was first established as a public body at the end of 1962, and then transformed into a limited company in 1992. In 1999, following the liberali ...

, in order to build an independent

fibre Fiber (spelled fibre in British English; from ) is a natural or artificial substance that is significantly longer than it is wide. Fibers are often used in the manufacture of other materials. The strongest engineering materials often incorp ...

-based

access network An access network is a type of telecommunications telecommunications network, network which connects subscribers to their immediate telecommunications service provider, service provider. It is contrasted with the core network, which connects l ...

. In July 2016, the

company A company, abbreviated as co., is a Legal personality, legal entity representing an association of legal people, whether Natural person, natural, Juridical person, juridical or a mixture of both, with a specific objective. Company members ...

acquired ''Acquired'' is a podcast by Ben Gilbert and David Rosenthal about business history and strategy. As of 2024, the podcast has more than 600,000 monthly listeners. History Gilbert and Rosenthal worked together at Madrona Venture Group and ini ...

Metroweb Metroweb (formerly Citytel), also known as Metroweb Milano, was a fiber-optic network operator based in Milan, Italy. It was a subsidiary of Metroweb Italia S.p.A. Founded in 1997, Metroweb was known for its fiber-optic cabling. Historical ...

from F2i SGR and

Cassa Depositi e Prestiti Cassa Depositi e Prestiti S.p.A., also known as CDP S.p.A., is a prominent Italian development bank founded on November 20, 1850, in Turin. Its original duty was to finance public works like roads and waterworks during the reign of Victor Emman ...

, a

private equity fund A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity. ...

and a

sovereign wealth fund A sovereign wealth fund (SWF), or sovereign investment fund, is a state-owned investment fund that invests in real and financial assets such as stocks, Bond (finance), bonds, real estate, precious metals, or in alternative investments such as ...

respectively. However, CDP also acquired 50% stake in Open Fiber. The company operates in the so-called "market success" clusters A and B as resolved by the Council of Ministers of the Italian Republic on 4 March 2015, ie 282 municipalities in large urban areas by 2022. The areas chosen for the project are a subset of the 642 municipalities categorized as clusters A and B by the

Government A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, government normally consists of legislature, executive (government), execu ...

. Open Fiber, estimating a cost corresponding to less than half of that proposed by the competition, won all fourteen lots envisaged in the three calls for the "ultra-broadband plan" launched by Infratel Italia for the construction of the network in clusters C and D ie "white areas" with low population density. The plan provides for the implementation of

FTTH Fiber to the ''x'' (FTTX; also spelled "fibre") or fiber in the loop is a generic term for any broadband network architecture using optical fiber to provide all or part of the local loop used for last mile telecommunications. As fiber opt ...

optical fiber An optical fiber, or optical fibre, is a flexible glass or plastic fiber that can transmit light from one end to the other. Such fibers find wide usage in fiber-optic communications, where they permit transmission over longer distances and at ...

with speeds up to 1 Gbit/s for urban areas and agglomerations of housing units, while preparing FWA radio links for rural or impervious areas and scattered houses. In March 2020 Open Fiber had accrued penalties for late deliveries of the works amounting to 286,871,750 euros. Their value abundantly exceeded 10% of the amount of the works, a critical threshold which, according to the concession, gave the grantor the right to terminate the contract. As of February 2023, optical fiber was carried out to 128,518 customers for a declared total cost for the Italian State of 1,471,810,248 euro (11,452 euro for each person). The service is available solely in 2,463,374 immobiliar units in respect of the 6,411,150 that had been planned for June 2023. Broadband diffusion can be verified in real time through a geographical search engine and an interactive map. In 2022 Enel sells its 50% share, which is acquired for 40% by

and for 10% by

CDP Equity Cassa Depositi e Prestiti Equity S.p.A. (formerly Fondo Strategico Italiano S.p.A.; FSI S.p.A.) also known as CDP Equity S.p.A., is a majority state-owned Italian sovereign wealth fund established in 2011. Its purpose is to invest in strategic It ...

, which reaches a 60% stake in the company. At the end of 2022, the debt reached a record value of 4.6 billion euros.

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External links

* Enel Italian companies established in 2015 Telecommunications companies established in 2015 Companies based in Milan Telecommunications companies of Italy {{Italy-company-stub

History

See also

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