Swisscom to invest EUR400m in FastWeb network

According to Dow Jones Newswires, Zurich-based Swisscom has revealed plans to invest EUR400 million (USD516.8 million) in the expansion of Italian unit FastWeb’s fibre-optic broadband network. The move, which the telco says will help it to increase competitiveness, will entail the rollout of new fibre-to-the-street (FTTS) infrastructure to complement its existing fibre-to-the-home (FTTH) network, which already covers around two million households in Italy’s urban areas. Swisscom plans to invest around EUR130 million in its FTTS infrastructure by the end of 2013, while a total of around EUR400 million will be invested by 2016.