Open Fiber
Open Fiber S.p.A. is an Italian wholesale-only telecommunications company specializing in the design, construction, and management of passive fiber-to-the-home (FTTH) infrastructure to enable ultra-broadband internet access nationwide.[1] Established in December 2015 as a subsidiary of the energy utility Enel S.p.A., it transitioned into a joint venture in 2016 with Cassa Depositi e Prestiti (CDP), Italy's state-backed investment institution, backed by an initial €3.7 billion commitment to deploy FTTH networks and address the country's digital infrastructure gaps.[3][4] As of 2025, ownership is split with CDP Equity holding 60% and Macquarie Asset Management controlling 40%, supporting ongoing expansions amid shareholder debates over strategic mergers and financial sustainability.[5][6] Unlike integrated operators, Open Fiber maintains a neutral wholesale model, leasing dark fiber and infrastructure to retail providers without entering consumer markets, which fosters competition while prioritizing nationwide rollout including underserved rural "white areas."[1][7] The network spans nearly 7,000 municipalities, covers over 17.7 million saleable property units, and serves 3.63 million end-users, with plans for €10 billion in investments through 2034 to connect an additional 20 million households.[8][6] Notable achievements include 24% revenue growth to €582 million and 31% EBITDA expansion in 2023, driven by €1.6 billion in annual capital expenditures, alongside sustainability milestones such as a Net Zero Plan targeting carbon neutrality by 2040 and full reliance on renewable energy sources.[9][10] Recent challenges encompass persistent operating losses—narrowed but still under €300 million in 2023—and negotiations over potential consolidation with rivals like FiberCop to streamline Italy's fragmented fiber market, reflecting tensions between expansion ambitions and fiscal pressures.[11][5]Overview
Company Profile
Open Fiber S.p.A. is an Italian wholesale-only telecommunications company specializing in the planning, construction, operation, and maintenance of fiber-to-the-home (FTTH) networks to deliver ultra-broadband connectivity.[12][1] The firm functions as a neutral infrastructure provider, granting non-discriminatory access to its passive optical network to licensed operators for the delivery of retail services, without competing in the end-user market itself.[1] Headquartered in Milan at Largo Guido Donegani 2, the company employs approximately 1,949 people and focuses on deploying FTTH infrastructure across urban centers, suburbs, and rural regions to achieve nationwide coverage.[13][4] The company's core mission centers on reducing Italy's digital divide by building a comprehensive FTTH-based ultra-broadband (UBB) network, aligning with national strategies for ultra-broadband development and the European Digital Agenda's goals for gigabit connectivity.[1] This involves leveraging existing physical infrastructure where feasible to minimize environmental impact while prioritizing FTTH technology for its superior speed and reliability over legacy copper or hybrid solutions.[1] Open Fiber's operations emphasize scalability and sustainability, targeting the connection of homes, businesses, and public institutions to support data-intensive applications and foster economic growth in underserved areas.[1] Since December 2021, Open Fiber has been fully owned by Open Fiber Holdings S.p.A., its sole shareholder, which holds the company under direction and coordination to execute strategic FTTH rollout objectives.[12] Open Fiber Holdings S.p.A. is majority-controlled by CDP Equity S.p.A. (60%), a subsidiary of the state-backed Cassa Depositi e Prestiti group, with the remaining 40% held by Fibre Networks Holdings S.a.r.l., an entity linked to Macquarie Asset Management.[12] This structure reflects a shift from earlier joint-venture arrangements, enabling focused investment in network expansion without retail distractions.[14][15]Strategic Objectives
Open Fiber's primary strategic objective is to reduce Italy's digital divide by deploying a nationwide Fiber to the Home (FTTH) optical fiber network, providing ultra-broadband connectivity to urban centers, rural municipalities, and industrial zones.[16] [1] This aligns with national initiatives such as the Broadband Ultra Larga (BUL) plan and the EU's Digital Compass, targeting Gigabit Society standards with download speeds of at least 1 Gbps and upload speeds of 200 Mbps by 2026.[17] Operating exclusively as a wholesale-only provider, the company facilitates equal access for telecommunications operators, fostering market competition and expanding consumer choices without engaging in retail services.[16] The company's industrial plan for 2025–2034 emphasizes extensive network expansion, with investments totaling approximately €10 billion to achieve coverage of over 20 million real estate units.[18] By July 2025, Open Fiber aims to connect 16.7 million FTTH units across more than 6,000 municipalities in all 20 Italian regions, including completion of 5,800 small-town deployments under public tenders.[17] This includes eight lots awarded under the "Italia a 1 Giga" program to extend ultra-fast connections, prioritizing underserved "white" and "grey" areas to bridge connectivity gaps with Europe.[16] Network capabilities support speeds up to 10 Gbps, certified as "true fiber" by Italy's communications regulator AGCOM, enabling advanced digital services for residents, businesses, and public administration.[17] Sustainability integrates into core objectives through a 2024-approved strategy featuring nine pillars, 21 targets, and 66 actions, guided by "Triple A" values of Ambition, Accountability, and Agility.[19] Key environmental goals include achieving net-zero emissions by 2040 via a dedicated plan, utilizing 100% renewable energy since 2022, and minimizing ecological impacts during deployment.[17] [19] These efforts support broader transitions in digitalization, decarbonization, and human capital development, with 2024 investments exceeding €1.5 billion to accelerate FTTH migration and rural connectivity.[18]History
Inception and Formation (2015–2017)
Enel established Enel Open Fiber S.p.A. on December 24, 2015, as a wholly owned subsidiary dedicated to constructing and operating an independent fiber-to-the-home (FTTH) network infrastructure throughout Italy, targeting underserved areas to accelerate ultra-broadband deployment amid the country's historical lag in digital connectivity.[20][21] In mid-2016, Enel Open Fiber expanded its assets by acquiring Metroweb Italia S.p.A., a fiber-optic operator primarily serving urban centers like Milan, from infrastructure fund F2i SGR and state investment entity Cassa Depositi e Prestiti (CDP), integrating approximately 250,000 kilometers of existing dark fiber ducts and enhancing the subsidiary's foundational network capabilities.[22] On December 21, 2016, CDP formalized a joint venture partnership with Enel by investing €961 million alongside Enel's €2.7 billion commitment, creating OpEn Fiber with a total initial capitalization of €3.7 billion to fund nationwide FTTH rollout, structured as a 50-50 ownership split between the two entities and emphasizing wholesale-only access to promote competition without vertical integration into retail services.[3][23] By early 2017, the newly formed entity rebranded to Open Fiber S.p.A. and prioritized initial deployments in up to ten major cities, including Bari, Cagliari, Catania, Florence, Naples, Padua, Palermo, Perugia, Reggio Calabria, and Venice, while preparing bids for government-subsidized ultra-broadband tenders under Italy's National Broadband Plan to cover white areas excluded from commercial viability.[3][22] In the first half of 2017, Open Fiber secured victories in public auctions for six regions, committing to connect over 4 million unserved households with FTTH, leveraging €1.1 billion in state incentives to extend infrastructure to rural and semi-urban zones where incumbent Telecom Italia (TIM) had limited incentives to invest.[22]Expansion Phase (2018–2022)
In 2018, Open Fiber initiated commercial operations, focusing on deploying FTTH networks in major urban centers and progressively expanding to smaller municipalities as part of Italy's national ultra-broadband plan. By the end of the year, the company had passed more than 4 million homes with fiber infrastructure and activated approximately 480,000 FTTH lines for wholesale partners.[24] This marked a significant acceleration from initial pilots, supported by investments from shareholders Enel and Cassa Depositi e Prestiti, with deployment emphasizing wholesale access to encourage competition among service providers.[25] Expansion intensified in 2019 and 2020, driven by contracts for both "black areas" (densely populated regions) and "white areas" (underserved rural zones subsidized by public funds). National FTTH coverage grew by 6 percentage points from mid-2018 to mid-2019, largely attributable to Open Fiber's efforts, which reached over 9.5 million premises by September 2020, including more than 3 million in rural locations.[25][26] Partnerships, such as extensions with Vodafone to cover 271 additional cities and with Italtel for network development in underserved areas, facilitated broader rollout.[27][28] By 2021–2022, Open Fiber scaled deployments to approach its initial target of 19 million premises, completing the bulk of core urban and semi-urban coverage by year-end 2022. Financial statements for 2022 reported 13 million FTTH units ready for service, part of a total 15.5 million real estate units covered (including fixed wireless access), with over 158,000 kilometers of fiber laid cumulatively.[29][30] In March 2022, the company secured €7.2 billion in project financing to support ongoing and future expansions toward 24 million households.[31] Despite achieving 44% national FTTH coverage by 2022, actual household connections remained at 12.5%, highlighting deployment success amid slower adoption rates influenced by competition from legacy copper networks and pricing dynamics.[32]Recent Developments (2023–Present)
In 2023, Open Fiber reported consolidated revenues of €582 million, marking a 24% increase from €470 million in 2022, driven by expanded wholesale services amid ongoing network deployment.[9] The company achieved coverage of approximately 15.6 million real estate units with FTTH fiber optics by early 2023, representing half of Italy's potential market.[33] By mid-2024, Open Fiber completed its ultra-broadband deployment plan in Sicily, covering 300 municipalities with a €239 million investment, enhancing connectivity in underserved southern regions.[34] The 2024 sustainability report highlighted progress on ESG goals, including 94% completion of the core development plan and over 9,900 km of new environmentally focused network installations.[35] Financial results for 2024 showed revenues rising to €675 million, a 16% year-over-year increase, though net losses expanded to €364 million from €296 million in 2023 due to intensified capital expenditures.[6] In March 2025, Open Fiber announced a €10 billion investment plan through 2034 to extend broadband access to around 20 million Italian households, prioritizing rural and white areas.[6] By September 2025, the company had deployed 89,201 km of fiber in concession white areas, achieving 98.5% of targets, with 17.77 million property units enabled for FTTH services nationwide.[36] In October 2024, the Italian government proposed merging Open Fiber with FiberCop to consolidate the country's fixed network infrastructure into a single entity, aiming to streamline investments and reduce duplication in last-mile access.[37] This initiative followed ongoing discussions since 2023 on unifying Italy's fragmented broadband landscape, though implementation details remained under negotiation as of late 2025.[32] Regional milestones included accelerated ultra-broadband rollout in Sardinia by October 2025, completing key phases of the island's connectivity plan.[38]Ownership and Governance
Ownership Structure
Open Fiber S.p.A. is controlled by Open Fiber Holdings S.p.A., its sole shareholder since December 2021, with Open Fiber Holdings owned 60% by CDP Equity S.p.A.—an investment vehicle of the state-backed Cassa Depositi e Prestiti (CDP)—and 40% by Macquarie Asset Management, an Australian infrastructure investor.[12][39] This structure positions CDP as the majority stakeholder, providing strategic direction amid ongoing network expansion and potential mergers, such as discussions with FiberCop as of May 2025.[5] The ownership evolved from Open Fiber's inception as a fully owned subsidiary of Enel S.p.A. in December 2015, transitioning to a 50-50 joint venture with CDP Equity in 2018 following a €4.5 billion capital injection.[39] Enel divested its entire stake in May 2021, selling 40% to Macquarie for approximately €2.24 billion and 10% to CDP Equity for €530 million, finalizing CDP's controlling interest by December 2021 and enabling a shift toward infrastructure-focused governance less tied to Enel's energy operations.[14][39] No further changes to the shareholding percentages have been reported as of October 2025, despite capital rebalancing efforts in April 2025 involving shareholder contributions and debt refinancing to support rollout obligations.[40]Executive Leadership and Board
The Board of Directors of Open Fiber S.p.A. oversees the company's strategic direction and operations as a wholesale-only fiber infrastructure provider.[12] For the 2024–2026 term, the board comprises seven members, appointed by shareholders on November 11, 2024.[41] Paolo Ciocca has served as Chairman since April 17, 2023, when the board co-opted him following the resignation of the previous chair, and his role was confirmed for the current term.[42][41] Giuseppe Gola acts as Chief Executive Officer (CEO) and General Manager, having assumed the position on September 1, 2023, after serving as CEO of Acea from May 2020 to September 2022; his appointment was renewed on November 11, 2024.[43][41] Gianluca Ricci holds the position of Vice Chairman.[41] The remaining board members include Manuela Carra, Giovanni Ferigo, Peter Mark Horrobin, and Alessandro Tonetti, all serving in non-executive capacities for the 2024–2026 term.[41]| Role | Name | Appointment Notes |
|---|---|---|
| Chairman | Paolo Ciocca | Confirmed November 11, 2024; since April 2023[41][42] |
| Vice Chairman | Gianluca Ricci | Appointed November 11, 2024[41] |
| CEO & General Manager | Giuseppe Gola | Confirmed November 11, 2024; since September 2023[41][43] |
| Member | Manuela Carra | Appointed November 11, 2024[41] |
| Member | Giovanni Ferigo | Appointed November 11, 2024[41] |
| Member | Peter Mark Horrobin | Appointed November 11, 2024[41] |
| Member | Alessandro Tonetti | Appointed November 11, 2024[41] |