Reported 4 months ago
Swisscom AG's Italian unit, Fastweb SpA, has agreed to sell its 4.5% stake in Telecom Italia's FiberCop SpA to private equity firm KKR & Co. for €438.7 million in cash. This deal, expected to close in the third quarter, follows KKR's previous purchase of a 37.5% stake in FiberCop for about €1.8 billion in 2020. The sale is part of KKR's expansion in Italy's telecommunications sector, with the aim of reducing Telecom Italia's debt and consolidating the industry.
Source: YAHOO