It's been several months in the making, but FiberCop, Italy's last-mile network grid, has finally moved into the operational stage with an enterprise value of 7.7 billion (US$9 billion).
Telecom Italia (TIM) announced the completion of shareholder agreements with KKR Infrastructure and Swisscom-owned Fastweb, meaning that KKR has acquired a 37.5% stake at a value of around 1.8 billion ($2.1 billion). Fastweb has also transferred its 20% stake in FlashFiber, its joint venture with TIM (which holds an 80% stake), into FiberCop and taken a 4.5% stake.
FiberCop now combines TIM's secondary network (from the street cabinet to customers' homes) and the fiber network developed by FlashFiber.