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A business model is presented for managing and expanding municipal Fiber Optical Metropolitan Area Networks (MANs) in Greece. It is based on establishing a utility company owned by municipalities within a region, which manages their MANs via a combination of in-sourcing and out-sourcing. The proposed business model addresses issues such as horizontal integration (e.g. extent of municipal utility companies), vertical integration, city interconnection, ownership and organizational structure. We subsequently outline the benefits associated with the proposed model. The paper concludes with a summary of the models expected benefit and future research work.