Telecom Italia (TIM) has selected US investment firm KKR as its exclusive partner to help develop a nationwide fibre-optic network. The telco’s board says it has taken ‘positive note of the non-binding offer presented by KKR’. TIM is looking to merge its broadband operations with those of wholesale provider Open Fiber, and the partnership with KKR could help push this deal through.
As reported by CommsUpdate yesterday, the Italian government is keen to see negotiations between TIM and Open Fiber’s shareholders move forwards. Reuters notes that KKR would remain as TIM’s partner even if a deal with Open Fiber does not materialise. The fund is interested in acquiring a stake in TIM’s last mile assets, which would assist the telco as it looks to continue the job of upgrading from copper infrastructure to fibre.