Italy’s industry ministry has informed the cabinet office of KKR’s plans, and a technical body in charge of examining foreign investments in strategic Italian assets intends to hear TIM’s views on the matter in the next few days, said the sources. The government has special ‘golden power’ vetting powers to block unwanted bids in industries considered of strategic importance. It reportedly cleared KKR’s acquisition of a stake in FiberCop on condition that it commit to a plan to merge the latter’s assets with those of wholesale rival Open Fiber to create a nationwide entity called AccessCo open equally to all operators.
Australian fund Macquarie is currently finalising the purchase of a minority stake in Open Fiber from Enel and is considering the possibility of syndicating its purchase, according to a separate Reuters report.
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