Deals
Telecom Italia Said to Be Near Picking KKR for Fiber Deal
- KKR is also considering investing in Telecom Italia’s network
- Telecom Italia CEO is working to cut costs and spin off assets
This article is for subscribers only.
Telecom Italia SpA is close to picking the private equity giant KKR & Co. to help it acquire wholesale fiber carrier Open Fiber SpA, according to people familiar with the matter.
Telecom Italia is choosing the U.S. investment firm because it’s also open to purchasing a minority stake in a portion of the Italian company’s landline network, the socalled “secondary network” of copper and fiber lines running from street cabinets to premises, that’s valued by KKR at 7 billion euros ($7.6 billion) to 7.5 billion euros, said the people, who asked not to be named because the discussions are private.