In a statement, TIM said the first step outlined in the MoU involves streamlining Tiscali’s network with a view to facilitating the migration of its customers to FiberCop's high-speed broadband network, helping to substantially reduce Tiscali's network infrastructure costs by avoiding duplication of assets. In the medium to long term, the agreement will also allow Tiscali to activate a significant part of its accesses on the newly-established network. Finally, the partners agreed to assess the possibility of Tiscali acquiring a stake in FiberCop through the conferment of a specific branch of business, in accordance with procedures to be agreed in the future.
The agreement comes after Italy’s government reportedly approved the sale of a 37.5 percent stake in FiberCop to KKR, with TIM’s board now expected to accept the deal in a 31 August vote. Earlier this month the board agreed to delay the vote after the government requested time to negotiate a merger of the operator’s last-mile assets with those of Open Fiber to create a national high-speed broadband network.
