Exclusive-KKR, Macquarie in Italy-backed talks over telecoms network commercial deal, sources say
Italian telecom operators FiberCop and Open Fiber, backed by KKR and Macquarie respectively, are in government-supported talks over a commercial agreement to expand high-speed broadband without merging, as regulatory and valuation disputes persist. The plan would divide infrastructure responsibilities in underserved areas while maintaining competition in profitable regions. Both companies would grant mutual network access, avoiding duplication of investment. The deal could support KKR's eventual partial exit via an IPO, though no final agreement has been reached.
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By Elvira Pollina and Giuseppe Fonte MILAN, April 28 (Reuters) - The owners of Italian telecommunications companies FiberCop and Open Fiber are discussing the terms of a possible commercial deal to complete the country’s high-speed broadband rollout, three sources close to the matter said. FiberCop has the Italian government and U.S. fund KKR as its main investors, after in 2024 they partnered in a 19 billion euro ($22 billion) buyout from Telecom Italia which remains KKR’s largest deal in Europe to date. Italy and KKR have been at odds over Rome’s push to merge FiberCop with rival Open Fiber, due to concerns over valuation and debt ratings.
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