Swisscom’s Fastweb to invest in Telecom Italia last-mile network: sources

MILAN: Fastweb, the Italian phone unit of Swisscom, is set to invest in the last-mile network Telecom Italia is looking to develop with U.S. infrastructure fund KKR, two sources familiar with the matter said on Friday.

Under the agreement, Fastweb will transfer the 20% stake it has in its Flash Fiber joint venture with Telecom Italia (TIM) into the new venture, the sources said.

Fastweb will end up with a single digit percentage share in the new project dubbed FiberCop, one of the sources said.

Fastweb, TIM and KKR declined to comment.

TIM is currently in exclusive talks with KKR to sell 40% of its 7.5-billion-euro secondary network of fiber and copper cables that link street cabinets to people’s homes.