Telecom Italia (TIM) has finalised the sale of its fixed line network ‘NetCo’ to KKR, in a deal worth up to €22 billion. The sale saw TIM transfer its fixed network infrastructure and wholesale activities to its subsidiary FiberCop, which was then fully bought out by KKR, who already owned a minority stake in the business.
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Telecom Italia (TIM) is open to new business deals once the sale of its fixed-line network NetCo is completed, CEO Pietro Labriola told reporters on a podcast interview for Bloomberg.
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Sparkle, Telecom Italia (TIM) ’s international services arm, has completed the first test of an international Virtual Private Network (VPN) protected with quantum encryption in partnership with Arqit Quantum, a UK company that specialises in quantum-safe encryption.
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The European Union’s antitrust regulators have begun asking rivals and customers if the acquisition of Telecom Italia (TIM)’s fixed-line network by US investment firm KKR would negatively affect wholesale competition in Italy, according to a Reuters report, citing people familiar with the matter.
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Telecom Italia (TIM) has announced that it has signed a €1.5 billion bridge loan to strengthen its financial position ahead of the sale of its fixed network infrastructure business, NetCo, to KKR and the Italian government for up to €22 billion.
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The Italian government had been ordered to pay Telecom Italia (TIM) €1 billion, after the Rome Court of Appeal ruled in favour of TIM regarding a historic license fee dispute.
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Italian government-backed infrastructure fund F2i has announced that it will invest €1 billion in Telecom Italia (TIM)’s NetCo, acquiring a 10% stak in the newly spun off business. As a result, the company will join US investment firm KKR and the Italian Ministry of Economy and Finance as co-investors.
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The Italian government has cleared Telecom Italia (TIM)’s sale of its fixed line network to US investment firm KKR, noting that KKR’s ownership does not contravene the state’s ‘golden power’ rules designed to protect its strategic assets.
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Press Release First phase of an investment project in a new backbone to strengthen Italy’s...
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According to three unnamed sources in a Reuters report, TIM’s largest shareholder Vivendi have filed a legal complaint to a Milan court against TIM’s decision to sell its domestic fixed-line network to US firm KKR. After entering into negotiations in June, the TIM and KKR confirmed the deal, worth roughly €18.8 billion, last month.
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News NetCo includes TIM’s fixed network and related real-estate, but excludes TIM’s submarine...
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On Sunday, Telecom Italia (TIM) approved the sale of its fixed-line network to US-based equity firm KKR for €18.8 billion. The fixed-line business will be spun into a new entity named NetCo.
TIM’s board of directors met from 3–5th November to examine the binding offer that was submitted by KKR back in October. Eleven of the board’s fourteen members approved the acquisition.
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News The offer is the latest development in a long-running saga surrounding the sale of TIM’s...
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News NetCo includes TIM’s fixed line network assets and their submarine cable subsidiary unit,...
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News A summary of all the essential financial news in the telecoms world this week Three UK...
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