Merge fiber network – TIM signs MoU
Merge fiber network – TIM signs MoUItalian telecommunications. TIM and Open Fiber and investors CDP, Macquarie, and KKR have signed an agreement to merge fiber networks. According to your sources, TIM signs MoU to merge the fiber network with Open Fiber.
Open Fiber and TIM have all signed a “Memorandum” to enable the integration of TIM and Open Fiber’s fiber networks. According to TIM, a process to create a “single, non-vertically integrated telecom network operator, controlled by CDPE. Also participated by Macquarie and KKR, which will accelerate the diffusion of fiber optic and VHCN infrastructures” in Italy.
All parties appear to have agreed to merge the fiber network separate from TIM’s fixed network infrastructure. Activities from its “commercial operations” through single or multiple corporate transactions.
Open fiber stakeholders
In early April, TIM began talks with CDP – the private equity arm of the state-backed Cassa Depositi e Prestiti (CDP) Group, which owns 60% of Open Fiber and is one of its own shareholders – with the goal of defining the terms of a merger. Integrating TIM’s fixed network assets and Open Fiber’s wholesale fiber infrastructure was viewed as a step toward creating a single high-speed fiber network in Italy.
However, TIM CEO Pietro Labriola stated that the deal had not been without complications at the beginning of May, saying, “There have been some delays… However, stakeholders are enthusiastic about completing the project. “I don’t see any issues.”
TIM will concentrate on ‘telecommunications and data transmission services in Italy as it’s a priority. Apparently, the aim is to sign any binding agreements by 31st October. But all the regulators and shareholders of concern will then need to have their say on it. As the release states, there is a fair amount about this that is ‘to be defined.’
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