Home » Fastweb abandons the Tim community, offered its share of FiberCop for 438 million

Fastweb abandons the Tim community, offered its share of FiberCop for 438 million

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Fastweb abandons the Tim community, offered its share of FiberCop for 438 million

Fastweb sells its stake in FiberCop to the subsidiary of the KKR fund for 438.7 million

Fastweban organization managed by Swisscom in Italy, pronounces that it has reached an settlement with Optics Bidco S.p.Aa subsidiary of KKRfor the sale of its stake in FiberCop.

KKR will purchase all of the shares held by Fastweb in FiberCop, equal to a 4.5% stake, for a money consideration of 438.7 million euros, a price consistent with the professional rata value paid by KKR to TIM for his share.

The transaction stays topic to completion of the associated transaction NetCo carried out by KKR whose closing is anticipated within the third quarter of 2024. Fastweb is a shareholder of FiberCopan organization created with TIM and by the American funding fund KKR to speed up the event of fiber optic infrastructure in Italy, since its inception in 2021. The transaction has no impact on the present wholesale settlement between Fastweb and FiberFCop.

Fastweb stays strongly dedicated to its mission to drive innovation and improvement of connectivity within the nation by means of investments in key telecommunications infrastructure.

Fastweb will subsequently proceed to make vital investments to extend the protection of its proprietary and managed end-to-end fiber community and can proceed to be a key provider of wholesale providers to 3rd events, guaranteeing the supply of strong and aggressive affords out there” , reads the press launch issued by the corporate. The transaction stays topic to the completion of the transaction referring to NetCo carried out by KKR whose closing is anticipated in Q3 2024.

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