(Reuters) – Telecom Italia (TIM) is moving into the energy sector with the launch of an electricity supply unit in partnership with Axpo Group subsidiary Axpo Italia, it said on Monday.
The unit, TIM Energia, aims to supply fully renewable power to business owners, professionals and small to medium-sized companies, TIM said in a statement.
No financial details of the launch were disclosed.
A number of TIM’s competitors in the highly competitive Italian telecoms market, such as Swisscom-backed Fastweb-Vodafone and CK Hutchison’ WindTre, are also offering power services in the country.
(Reporting by Romolo Tosiani in Gdansk; Editing by Jan Harvey)
