Telecom Italia SpA's board agreed to spin off its fixed access network into a separate entity, which will be named Netco.
Telecom Italia proposed to fully control Netco and to own its access network and infrastructure, according to a news release.
In line with the plans, the Italian operator's board authorized CEO Amos Genish to notify regulator Agcom of the company's request for the voluntary separation.
In January, Telecom Italia began drafting proposals to split its fixed access network business, following Agcom's competition concerns in relation to the operator's fixed-line network.
Goldman Sachs and Credit Suisse have been selected by Telecom Italia to prepare the spinoff, according to an earlier Reuters report.
