Italy's FiberCop eyes some 12 bln euro investments in new plan
CERNOBBIO, Italy, Oct 15 (Reuters) -FiberCop, the wholesale-only telecoms network operator controlled by KKR KKR.N plans to earmark investments of 12 billion euros ($13.09 billion) in its upcoming five-year business plan, Chief Executive Luigi Ferraris said on Tuesday.
"We are a working on a five-year plan including investments of about 12 billion euros", Ferraris said on the sidelines of an event on the Como Lake.
Spun off from Telecom Italia (TIM) TLIT.MI earlier this year, FiberCop controls the Italian former phone monopoly's fixed line fibre and copper network.
The Italian government, which holds a minority stake in FiberCop, is looking to combine FiberCop assets with those of state-backed rival operator Open Fiber to create a unified national network operator.
Asked about a combination with Open Fiber, Ferraris said the company is at present focused on its own business plan, which is expected to be approved in December.
($1 = 0.9165 euros)
Reporting by Elvira Pollina, editing by Alvise Armellini and Tomasz Janowski
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