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

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

The value of the entire transaction, including profits, is estimated at around EUR 22 billion.

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

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

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