CDP Equity (CDPE), Teemco Bidco S.à.r.l., Macquarie Asset Management, Open Fiber and TIM have entered into a non-binding Memorandum of Understanding (MoU) for the integration project between TIM and Open Fiber networks in Italy.

The purpose of the MoU is to initiate the creation of a single, non-vertically integrated telecommunications network operator, controlled by CDPE to accelerate the diffusion of fibre optic and VHCN (Very High Capacity Networks) infrastructures throughout the country. Following the completion of this transaction, there will be a separation of activities between TIM and Open Fiber, which will enable TIM to focus its activities on telecommunications and data transmission services.

CDPE is wholly owned by Cassa Depositi e Prestiti (CDP), while Teemco Bidco S.à.r.l. is a Luxembourg company controlled by the funds managed by Kohlberg Kravis Roberts & Co. L.P. (KKR).