White & Case advises Italian Ministry of Economy and Finance on acquisition of TIM’s network

Global law firm White & Case LLP has advised the Italian Ministry of Economy and Finance on its investment in a consortium led by private equity fund KKR which aims to acquire TIM's network infrastructure activities.

The entire transaction is valued at approximately €22 billion, including earn-outs.

The new entity, resulting from the incorporation of the landline network of Telecom Italia (TIM) into FiberCop, will be owned by a consortium of investors led by KKR and including the Italian Ministry of Economy and Finance, a company controlled by Abu Dhabi Investment Authority, a company controlled by the Canada Pension Plan Investment Board and the Italian infrastructure fund F2i. FiberCop will be a wholesale open access telecommunications network open to all operators in Italy, providing end-to-end connectivity services throughout the country.

The White & Case team in Italy that advised on the transaction was led by partner Domenico Fanuele and local partner Giovanni Cirelli and included local partner Andrea Pretti, associate Camilla Zanetti and lawyer Francesco Speciale.

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