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UPDATE 1-Pay TV firm Sky teams up with Fastweb for mobile phone offer in Italy

Reuters
·1-min read

(Adds analyst comment, background)

MILAN, Nov 28 (Reuters) - Pay TV operator Sky Italia is teaming up with broadband company Fastweb to offer mobile connectivity services in Italy from early 2024, the two firms said in a joint statement on Tuesday.

Under the multi-year partnership, Comcast unit Sky Italia and Fastweb, the Italian unit of Swisscom, will provide services covering 99% of the country, including 5G mobile networks.

Sky Italia CEO and former Vodafone executive Andrea Duilio said the new Sky Mobile package would offer clients "all their connectivity needs".

The company already provides fixed connectivity services in Italy. The UK had been the only market where it offered mobile services.

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The Italian telecoms market is one of the most crowded and competitive in Europe.

"If we assume they (Sky) will maintain a high-end position...we do not see this launch as disruptive for the market", Intesa Sanpaolo analysts said in a report.

Telecom Italia (TIM)'s wholesale service revenues could benefit from the move given that Fastweb partly leverages on TIM for its mobile virtual network operator services, the brokerage added. (Reporting by Elvira Pollina Writing by Federico Maccioni Editing by Gavin Jones and Frances Kerry)