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Broadband

KKR offers EUR 1.8 bln for stake in TIM's last-mile network - report

Thursday 30 July 2020 | 10:39 CET | News
US private equity fund KKR has tabled a binding offer to acquire a minority stake in Telecom Italia’s landline (copper and fibre) network, according to two unnamed sources cited by Reuters. KKR has been in exclusive talks with Telecom Italia (TIM) since February and has reportedly offered EUR 1.8 billion for a 38 percent stake in the FiberCop newco set up by the former incumbent for its last-mile network.

The deal comes after TIM selected KKR as an "exclusive partner" to help it roll out fibre-optic networks throughout Italy after talks with the owners of Open Fiber – utility giant Enel and state lender CDP – stalled earlier this year due to regulatory, funding and business issues. In March, TIM CEO Luigi Gubitosi said FiberCop will manage TIM's entire copper network and will also act as a wholesale operator offering access to passive copper and fibre networks.

Earlier this month, Reuters reported that the government would be in favour of CDP taking a stake in TIM’s last-mile networks to balance KKR’s presence in an infrastructure considered strategically important. The government is also reportedly considering a plan to set up a single high-speed fixed broadband network that would initially be majority-owned by TIM but would grant equal access to all operators.


 



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Categories: Fixed
Companies: Open Fiber / Telecom Italia / TIM
Countries: Italy
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