Fibercop: Joint statement closing day

FiberCop today launched as an open-access wholesale telecommunications network accessible to all operators in Italy, providing end-to-end connectivity services nationwide. 

The new company, formed from the incorporation of Telecom Italia’s (TIM) fixed line network into FiberCop, is wholly owned by an investor group led by KKR and including the Ministry of Economy and Finance of the Italian Government, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), CPP Investments and infrastructure fund F2i Sgr.

Commenting on the close, the investors stated:

Marcello Sala, Director General at the Department of the Economy at the Ministry of Economy and Finance: “Today an important step is taking place for the future of telecommunications. The Italian government wanted to protect a strategic asset for Italy and intends to maintain this role of guarantor also in the next steps. Furthemore we would like to underline the importance of operating with institutional investors, confirming the attractiveness of investments in our country.”

Alberto Signori, Partner, Infrastructure at KKR: “Today’s launch of FiberCop marks a historical milestone for the Italian telecommunications sector. It creates a wholesale network accessible to all operators, provides fresh capital for investments into the network infrastructure, and accelerates the conversion from copper to high performing fibre-optic across Italy. The strategic partnership between the Italian government and KKR reflects our shared commitment to fast-tracking the digital transition in Italy and represents the significant role private capital can play to support economic and social development. Together we are poised to deliver a robust digital infrastructure that aligns with Italy's digital ambitions. We are also pleased to continue our investment relationship with ADIA which has been invested in FiberCop since 2021, while also welcoming CPP Investments and F2i Sgr as new shareholders.” 

Khadem AlRemeithi, Executive Director, Infrastructure at ADIA: “The successful closing of the transaction and the launch of FiberCop today represent a landmark event that marks a new chapter in the Italian telecommunications industry. This strategic move is a testament to our commitment since 2021 advancing the sector and contributing to the growth and development of Italy's digital infrastructure.”

Renato Ravanelli, Ceo of F2i Sgr: “F2i joins the Ministry of Economy and Finance and three international investors in a systemic operation of paramount strategic and industrial value. F2i will carefully follow this important investment, supporting the company and its new management so that the objectives of the industrial plan already agreed between the shareholders and aimed at rapidly replacing the copper network with a fiber optic network are pursued, a necessary condition for digital transformation of the country.”