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TIM approves sale of FiberCop stake to KKR and govt single network plan

2020-09-01 08:56:00| Telecompaper Headlines

(Telecompaper) Telecom Italia (TIM) announced that its directors approved the sale of a minority stake in its last-mile fixed network to US investment fund KKR Infrastructure during a board meeting in which they also backed a government plan to set up a single high-speed broadband network company with rival Open Fiber. The agreement with KKR will see the US firm take a 37.5 percent stake in TIM's last mile fibre and copper grid company FiberCop for EUR 1.8 billion, on the basis of an enterprise value of EUR 7.7 billion and an equity value of EUR 4.7 billion. That deal is expected to be launching pad for the government's plan to merge FiberCop with Open Fiber to create a single network operator

Tags: plan single sale network

Vodafone, WindTre, Sky call on govt to guarantee independence of single broadband network

2020-08-31 08:52:00| Telecompaper Headlines

(Telecompaper) The CEOs of Vodafone Italia, WindTre and Sky Italia have called on the Italian government to ensure the independence of a future single high-speed network following a videoconference held with Italy's economic and industry ministers and the head of state lender CDP. "Independence is the crucial factor for a rapid and widespread development of the ultra-broadband network," said chief executives Aldo Bisio (Vodafone), Jeffrey Hedberg (WindTre) and Maximo Ibarra (Sky) in a joint statement released following the meeting.

Tags: call single network guarantee