Telecom Italia inks deal with Netflix

MILAN (Reuters) - Telecom Italia (TLIT.MI) will offer TV series and movies from Netflix (NFLX.O) to its clients after a deal the Italian phone group said would help spur demand for faster Internet in the euro zone's No. 3 economy.

Telecom Italia is boosting investments to build modern fibre optic networks and sealing deals with content providers, part of a search for new sources of income as its traditional phone services lose appeal amid rising online competition.

TV clients equipped with a set-top box provided by Telecom Italia will access content of fast-growing Netflix. No financial details of the partnership agreement were disclosed in a joint statement on Wednesday.

At the launch, the Netflix offering is to include series such as Daredevil and Sense8, documentaries and stand-up comedy specials, plus a selection of programmes for children.

Telecom Italia, in which French media group Vivendi (VIV.PA) became the biggest investor last month, previously reached a content deal with Sky Italia and is open to agreements with other players.

Last month, Netflix unveiled plans to expand into Italy, Spain and Portugal later this year as part of a bid to bring the popular American TV and film streaming service to some 200 countries within two years.

(Reporting by Danilo Masoni; Editing by Mark Heinrich and David Holmes)