TIM board approves state’s network proposals

The board of Telecom Italia has approved the sale of a 37.5% stake in its last-mile networks business FiberCop to US investment fund KKR for EUR1.8 billion (USD2.1 billion). The board also agreed to a government plan for setting up a shared national broadband infrastructure company with wholesale network operator Open Fiber. As reported by CommsUpdate last week, the government proposals will restrict TIM’s control of the merged unit while still giving it majority ownership.