TIM’s Board of Directors approved the agreement with KKR Infrastructure and Fastweb for the establishment of FiberCop, the NewCo to which TIM’s secondary network (from cabinets to customers’ homes) will be transferred along with the fibre network developed by FlashFiber, the joint venture in which TIM has an 80% and Fastweb a 20% stake. The Board also expressed its satisfaction with the recent signing of a letter of intents with Tiscali.
TIM’s Board of Directors also examined and approved the signing of the letter of intents with CDP Equity intended to integrate FiberCop in the wider plan to establish a single national network company. The Board of Directors granted the CEO, Luigi Gubitosi, the power to sign the agreement.