Iliad Group agreed to invest an undisclosed amount in Telecom Italia fixed spin-off FiberCop, a step the pair described as accelerating Italy’s digitalisation.
In a statement, Telecom Italia explained the deal defines Iliad’s participation in the project, which targets development of its secondary fixed network, from cabinets to customers’ homes.
In addition, Iliad would gain access to Telecom Italia’s primary fibre network.
Telecom Italia hailed the move as showing Iliad’s commitment to invest in the digitalisation of Italy to deliver “high quality connectivity with simple and transparent offers”.
The incumbent added Iliad’s interest also proved the effectiveness of a FiberCop co-investment model which Telecom Italia stated had accelerated efforts to close the national digital divide.
FiberCop targets 75 per cent of underserved areas in the country to be covered by 2025.
The spin-off was launched in April to act as a single fibre network. Telecom Italia is the majority shareholder, with KKR Infrastructure and fiber operator Fastweb also holding stakes, and ISP Tiscali agreeing an investment.
Iliad Italia expressed interest in adding fixed services to its offerings in 2020, through a deal with Open Fiber.Subscribe to our daily newsletter Back