Fiber Cop, Fastweb’s share to Kkr. Government dreams of a single network with NetCo

After the sale of the share of Fiber Cop by Fastweb to KKR, the government dreams of a merger with Netco for the single network

Analysts judge the decision positively Swisscom to give in to Kkr its 4.5% share, held by the subsidiary Fastwebin FiberCopthe secondary network of Telecom in copper and fibre, for 438 million. The assessment is in line with the overall one recognized by Kkr a Tim for the acquisition of NetCoi.e. the entire primary and secondary access network of Telecom.

Experts believe that this move could strengthen the positioning of NetCo as a wholesale-only operator, with no more equity connections with telephone operators, favoring competition on equal terms between retail operators.

In fact, the sale eliminates the last element of vertical concentration between NetCo And Fastweb, but also horizontal, given that both companies are network operators and competitors in the wholesale market. If the news is positive from one point of view Antitrust it is also obvious that NetCobeyond Open Fiberhe will find another network operator on his way.

Fastweb in fact it has declared that it wants to remain committed to its objective of promoting innovation and connectivity in the country through investments in key telecommunications infrastructure. The company will therefore continue “to invest to expand the reach of its end-to-end controlled fiber network and will remain a leading provider of wholesale services to third parties, ensuring the availability of valid and competitive offers in the market”.

Fastweb It also specified that the transaction has no impact on network service provision agreements already in place FiberCop with Telecom.

In fact, the ultra-broadband operator was, with Iliadamong those interviewed by the EU Antitrust which gave the green light to the acquisition of the network Telecom from Kkr and the Mef for a value of approximately 20 billion euros.

The agreement therefore provides for KKR to purchase all the shares FiberCop held by Fastweb and the closing of the transaction is expected in the third quarter of 2024. FiberCop was created in 2020, commissioned by the then CEO of Tim Luigi Gubitosiwith Kkr And Fastweb with the aim of accelerating the conversion of the copper network to fibre.

By the end of the year there will be another important operation for the Italian telecommunications market. That is, the closing of the acquisition by the same Fastweb of the activities of Vodafone in Italy. In this case the approval for the acquisition, which has a value of 8 billion euros, must come from the Italian Antitrust while the green light from the EU is not needed.

Given that Fastweb will also strengthen itself as a wholesale network service provider, the government may well hope to complete the longed-for merger between NetCoi.e. the Telecom e network Open Fiber for the creation of a single network operator with foreign shareholders but where state governance will be predominant. The market remains on the sidelines: after the rises of recent days Tim remains weak in Bag (-0.91%).