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Amazon Scraps Drone Delivery Plans in Italy After Strategic Review

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Amazon has decided to halt its plans to launch drone-based delivery services in Italy, citing regulatory and business challenges that undermine the project’s long-term viability. The company confirmed the decision on Sunday following a strategic review of its operations in the country.

Amazon said that although it had made meaningful progress with Italian aerospace regulators, the broader regulatory environment did not support its commercial objectives for drone delivery. “Following a strategic review, we have decided to stop our commercial drone delivery plans in Italy,” the company said in a statement. It added that, despite positive engagement with regulators, the overall business framework remains a limiting factor.

Italy’s civil aviation authority, ENAC, described the move as unexpected. In a statement released on Saturday, ENAC said the decision appeared to be driven by internal company policy and was linked to “recent financial events involving the Group,” without providing further details.

Amazon had previously signaled strong momentum for the initiative. In December 2024, the company announced the successful completion of initial drone delivery tests in San Salvo, a town in the central Abruzzo region. Those trials were seen as a key step toward introducing faster, automated delivery services in Italy as part of Amazon’s broader global drone program.

The halt underscores the challenges facing commercial drone delivery projects, which must navigate not only aviation safety rules but also complex national business and regulatory environments. While Amazon continues to test and operate drone delivery services in select markets, Italy will no longer be part of its near-term expansion plans.

Yahoo Nears $1.4 Billion Deal to Sell AOL to Italy’s Bending Spoons

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Yahoo is close to finalizing a deal to sell its AOL unit to Italian technology company Bending Spoons for about $1.4 billion, according to four sources familiar with the matter. The sale would mark the latest chapter in the decline — and reinvention — of one of the internet’s earliest giants.

The Milan-based app developer is in advanced negotiations to purchase AOL, the sources said, but cautioned that no final agreement has been signed, and the talks could still collapse.

Yahoo, owned by Apollo Global Management, did not respond to Reuters’ request for comment, while both Bending Spoons and Apollo declined to discuss the ongoing talks. Apollo acquired a 90% stake in Yahoo from Verizon in 2021 in a $5 billion deal.

FROM INTERNET ICON TO REVAMP OPPORTUNITY

Once the dominant force of the early internet, AOL was synonymous with the “You’ve Got Mail” era and played a defining role in the online revolution of the late 1990s. Its 2000 merger with Time Warner, then the largest corporate deal in history, ended in massive losses and regulatory scrutiny — symbolizing the collapse of the first dot-com boom.

A successful sale to Bending Spoons would be a fresh start for the AOL brand, adding its advertising and subscription-based services — including LifeLock, LastPass, and McAfee Multi Access — to the Italian company’s fast-expanding portfolio.

A source familiar with AOL’s recent performance said the company has seen 20% year-over-year website traffic growth, driven primarily by users aged 25 to 54, a shift from its traditionally older demographic. The rise is attributed to new content verticals such as Health, Science & Tech, Home & Garden, and True Crime.

BENDING SPOONS: EUROPE’S RISING TECH STAR

Founded in 2013 by Luca Ferrari, Bending Spoons has become one of Europe’s most prominent tech firms, known for acquiring struggling digital platforms and modernizing them. Its apps now attract 300 million monthly users worldwide.

The company was valued at $2.55 billion after a February 2024 funding round, earning it “unicorn” status — a rarity in Italy’s tech ecosystem.

Bending Spoons has recently been on an acquisition spree, purchasing WeTransfer earlier this year and agreeing to take Vimeo private for $1.38 billion in what is currently its largest deal.

Adding AOL’s global reach would further bolster the company’s ambitions and position it as a potential IPO candidate in the United States. CEO Luca Ferrari previously told Reuters that while no immediate plans exist for a public listing, the firm is “working to be ready” and looking to expand beyond Europe.

If completed, the $1.4 billion AOL acquisition would cement Bending Spoons’ role as a new European powerhouse reviving legacy internet brands for the AI and mobile era.

Olidata Targets Italian M&A Deals to Build Scale, Chairman Says

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Olidata (OLI.MI), the Italian IT and cybersecurity group, is preparing to expand through mergers and acquisitions, with a potential deal likely before the end of the year, Chairman and main shareholder Cristiano Rufini told Reuters.

Rufini said the focus will remain on the Italian market, where small but innovative tech firms risk losing ground without consolidation. “In Italy, we have some very good, high-performing centres of excellence, but they are very small. If we don’t manage to build significant critical mass, some valuable technologies and solutions risk being lost,” he explained at the TEHA Forum in Cernobbio.

Since returning as chairman in April, Rufini has steered Olidata toward growth in digital healthcare and proprietary cybersecurity technologies. The company reported €96.7 million in revenue and €5.9 million in adjusted EBITDA last year.

Despite being relisted in 2023, Olidata’s share price has been volatile—currently around €2.8 with a €53 million market cap, well below its September 2023 peak of €8.65. Rufini attributed the swings to the stock’s structure, dominated by retail investors holding 32% of capital and the absence of institutional backers.

His goal: build a stronger governance framework, attract institutional investors, and position Olidata as a solid, growth-driven technology player in Italy’s digital economy.