In Milan, KKR, a U.S. investment fund that holds the majority stake in Italian fiber optic operator FiberCop, is considering a potential collaboration with Italy's Open Fiber as part of a larger government initiative to establish a unified broadband network, according to KKR Partner Alberto Signori during a conference in Milan.

Of significance is that under the terms of Telecom Italia's sale of FiberCop to a consortium led by KKR, an additional payment of around 2.5 billion euros would be triggered for TIM if FiberCop and Open Fiber merge before the end of 2026.

FiberCop was separated from TIM in July 2024 when a consortium led by KKR completed an 18.8 billion euro acquisition of the unit. Open Fiber, mandated by the Italian government nearly ten years ago to deploy fiber optic cables nationwide, is majority-owned by the state institution Cassa Depositi e Prestiti, with the remaining portion held by Australian fund Macquarie.

KKR's Partner Signori mentioned that discussions are ongoing and the Italian government is inclined to assess the feasibility of integration between FiberCop and Open Fiber to generate cost savings on investments. As shareholders of FiberCop, KKR is examining the potential circumstances to proceed with the integration.

The equivalent exchange rate mentioned is $1 = 0.9257 euros.