Rome backs KKR bid for stake in TIM’s last-mile business

27 Aug 2020

The Italian government has reportedly approved a move by Telecom Italia (TIM) to sell a stake in its last-mile networks business FiberCop to US investment firm KKR. KKR has offered EUR1.8 billion (USD2.1 billion) for a 37.5% interest in FiberCop and La Repubblica writes that, following the government green light, TIM’s board is expected to vote on 31 August to push the deal through.

The Rome government is still trying to help negotiate a tie-up between TIM and wholesale network operator Open Fiber, which would lead to the creation of a single national broadband network. An agreement has not yet been reached as the various parties have different views on the future ownership and governance of the business, with TIM looking to retain control but politicians favouring an independent unit.

Italy, Kohlberg Kravis Roberts & Co (KKR), Telecom Italia (TIM)