Italian government conditionally approves KKR role in FiberCop

16 Nov 2020

The Italian government has reportedly agreed to the acquisition of a minority stake in Telecom Italia’s (TIM’s) last-mile networks unit FiberCop by US investment firm KKR. The deal between TIM and KKR was agreed in August, and sources suggested at the time that authorities in Rome would be favourable to the tie-up. Reuters now cites three unnamed sources as saying that the government will approve the transaction on the condition that KKR agrees to a plan to create a single national broadband network by merging the assets of TIM and wholesale operator Open Fiber. KKR has offered EUR1.8 billion (USD2.1 billion) for a 37.5% interest in FiberCop.

Italy, Telecom Italia (TIM)