Telecom Italia (TIM) has approved a €1.8 billion ($2.1 billion) agreement with KKR Infrastructure and Fastweb to establish FiberCop, a much-anticipated move that paves the way for a potential merger with rival Open Fiber to establish a single Italian network company.
It is a deal the Italian government has long been pushing for. The companies, along with Enel, have been in talks since June 2019 about combining their assets, but had failed to come to an agreement. In early August, the government postponed the transaction to allow the companies more time to strike a deal. Last week, the government gave the deal the green light to move forward.
TIM will hold a 58 percent stake in the new company, with KKR picking up a 37.5 percent stake and Fastweb a 4.5 percent stake. The deal va
