Fastweb (telecommunications company)
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| Type | Public (BIT: FWB) |
|---|---|
| Industry | Telecommunications |
| Founded | 1999 |
| Headquarters | Milan, Italy |
| Key people | Carsten Schloter (Chairman), Ueli Dietiker (Vice-Chairman), Alberto Calcagno (General director) |
| Services | Internet, on-demand TV |
| Revenue | €1260m (2006) |
| Operating income | €425m (2006) |
| Net income | -€124m (2006) |
| Owner(s) | Swisscom (82%) |
| Employees | 3417 |
| Website | company.fastweb.it |
FASTWEB S.p.A. (BIT: FWB) is an Italian broadband telecommunications company. It provides voice, Internet, cable television, IPTV and FTTH connection. The cable television and IPTV services were developed by Fastweb themselves as the technology market in 2000 was not mature enough to offer the level of sophistication required to deploy and manage a premium service. Fastweb rapidly became the leading reference worldwide for how to create and build IPTV services, employing a mixture of own developed middleware and Set Top Box software.[1][2]
In the period of 2005-2007, Fastweb together with Sparkle, a subsidiary of Telecom Italia, was involved in a massive scheme of money laundering and tax fraud staged by the ’Ndrangheta. The scheme was uncovered in February 2010, and Italian authorities issued 56 arrest warrants, including for entrepreneur Silvio Scaglia and senator Nicola Paolo Di Girolamo.[3]
In May 2007, the Swiss telecommunications company Swisscom paid 3 billion euros for 82.4% of Fastweb.[4] Fastweb retains its stock market listing and remains a distinct operating entity.
[edit] See also
[edit] References
- ^ New York Times 17 January 2005
- ^ .COM, a Italian-language newspaper from Rome May 3, 2005: Videostation: la vera rivoluzione del mercato
- ^ New York Times 25 February 2010
- ^ Press release of May 15, 2007: Swisscom's bid for Fastweb was successful
