Shares in Telecom Italia fell as much as 5 on Friday on growing uncertainty over Italys plans for a single superfast broadband network.
Rome has been trying to create a national network by merging Open Fiber, a small broadband firm owned by state lender Cassa Depositi e Prestiti CDP and utility Enel, with the landline grid assets of former monopoly Telecom Italia TIM.
CDP is also TIMs second largest shareholder behind French media giant Vivendi.
But the plan, for which TIM and CDP struck a preliminary accord last year, has not been finalised, and two ministers from Mario Draghis national unity government cast doubts over the project in recent days.
Industry Minister Giancarlo Giorgetti said on Wednesday Rome would reexamine the previous governments plan for the single network to ensure it is feasible, adding it would make sense only if the network were under state control.
Innovation Minister Vittorio Colao on Thursday called for the stalemate over the project to be resolved as soon as possible to avoid holding up Italys broadband rollout plan, and said other options were also being considered.
While the new ministers commitment to accelerate the ultrabroadband national coverage looks clear, how this should occur in their view is not, Intesa Sanpaolo said in a report.
TIM shares were the top loser on Italys blue chip index, down 5.3 by 1034 GMT.
Draghi has put digital infrastructure at the heart of his governments agenda but has yet to clarify whether he intends…