Swisscom AG (SWZCF.PK, SCMWY.PK), a prominent Swiss telecommunications firm, announced on Wednesday that its Italian subsidiary, Fastweb S.p.A., has finalized a share purchase agreement with Optics Bidco S.p.A., a branch of the U.S. investment company KKR & Co. Inc. (KKR). This agreement concerns the sale of Fastweb's 4.5 percent stake in FiberCop.
As part of the arrangement, KKR will purchase all of Fastweb's shares in FiberCop for a total of 438.7 million euros in cash.
FiberCop was established through a collaboration between Italian telecommunications giant TIM, KKR, and Fastweb, with the objective of accelerating the development of fiber infrastructure across Italy.
The deal is anticipated to close in the third quarter, contingent upon the successful completion of KKR's NetCo transaction.
"The transaction does not impact the wholesale agreement between Fastweb and FiberCop," Swisscom stated.
