Liberty Global keeps eye on Italy's Fastweb

PARIS (Reuters) - Worldwide cable operator Liberty Global (LBTYA.O: Quote, Profile, Research, Stock Buzz) might look at Italy's Fastweb (FWB.MI: Quote, Profile, Research, Stock Buzz) if it comes up for sale, Chief Executive Mike Fries told Reuters on Wednesday.

"For us there would only be one interesting opportunity (in Italy) and that's Fastweb ... It really is the terrestrial fixed-line competitor to telco there," Fries said at the Reuters Global Technology, Media and Telecoms summit.

Fastweb shares leapt last year on expectations that a stake might be sold but founder and Chairman Silvio Scaglia shelved plans to sell his 25 percent holding last month.

Press reports and market rumors mushroomed after Scaglia said he could reduce his stake, but analysts said there were few genuine contenders for the Internet, television and phone provider, less than a year after it unveiled an ambitious 2.8 billion euro investment plan to extend its fiber optic network.

Fries said Liberty Global had met Scaglia and had done some initial analysis before the Italian firm won two lucrative public sector contracts that prompted it to halt its sale plans.

Liberty Global, Europe's biggest cable operator, could consider Fastweb again if it came on to the market, Fries said.

"We might look at that ... Fastweb is interesting because there really isn't any cable in Italy."

Fastweb shares hit a high of 44.6 euros per share in November when Scaglia said he had mandated Deutsche Bank to look at strategic options. The shares traded at 40.7 euros per share, up 0.6 percent, by 1440 GMT.