Swisscom has revealed that its Italian subsidiary, FastWeb, has sold its 4.5% stake in FiberCop to Optics BidCo, a subsidiary of KKR, for €439 million. FiberCop, formed in 2021 by Telecom Italia (TIM), KKR, and FastWeb, manages the ‘last mile’ fibre network, connecting homes to street cabinets.
This transaction hinges on the completion of TIM’s sale of its fixed network operations, NetCo, to KKR. The deal is expected to be finalized in the next quarter. FastWeb emphasized in its brief press release that it remains committed to advancing innovation and connectivity in Italy by continuing to invest in essential telecommunications infrastructure. The company plans to keep investing in its fibre network and maintain its role as a wholesale services provider to other businesses.
The sale comes shortly after the European Commission approved KKR’s €22 billion acquisition of TIM’s NetCo. Following a comprehensive investigation, the Commission concluded that the purchase would not significantly impact competition in the wholesale broadband access services market in Italy.
Swisscom’s activities in the Italian telecom sector extend beyond this transaction. Last quarter, the company secured a binding agreement with Vodafone Italia to acquire its local business unit for €8 billion. Once finalized, this unit will merge with FastWeb, establishing Italy’s second-largest fixed-line broadband operator after TIM. This merger is anticipated to be completed next year.
