Telecom Italia (TIM) has postponed to Aug. 31 a decision on the sale of a minority stake in its last-mile grid to U.S. investment firm KKR on a government request to negotiate a deal with rival Open Fiber.
FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo
Under the planned deal with KKR, TIM is set to sell the fund a minority stake in Fibercop, a vehicle that will hold the incumbent’s secondary network that is made up mainly of copper. TIM added that the group’s last-mile project deal could change in the light of the negotiations with the Italian authorities.
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