Swisscom Sells €439 Million Telecom Italia Network Stake to KKR
- Swisscom unit Fastweb sold its 4.5% stake in FiberCop
- KKR is expanding its holdings in Italy’s telecom network
A Fastweb store in Milan.
Photographer: Francesca Volpi/BloombergThis article is for subscribers only.
Swisscom AG’s Italian unit agreed to sell its stake in Telecom Italia SpA’s fiber company to private equity firm KKR & Co., which is expanding its holdings in the country’s telecommunications network.
Fastweb SpA signed a deal with KKR subsidiary Optics Bidco for its 4.5% holding in Telecom Italia’s FiberCop SpA for €438.7 million ($477 million) in cash, the Italian company said in a statement Tuesday. The deal, which is expected to close in the third quarter, confirms a Bloomberg News report.