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TIM, Tiscali sign memorandum of understanding on Fibercop investment

Telecom Italia and smaller rival Tiscali signed a memorandum of understanding for Tiscali to take a commercial participation in FiberCop, the last-mile network project TIM has been developing with U.S. fund KKR, the companies said on Thursday.

MILAN, Aug 27 (Reuters) - Telecom Italia and smaller rival Tiscali signed a memorandum of understanding for Tiscali to take a commercial participation in FiberCop, the last-mile network project TIM has been developing with U.S. fund KKR, the companies said on Thursday.

They said the first step would see Tiscali's network streamlined to facilitate migration of its customers to FiberCop's ultra-broadband network.

In the longer term, the deal would allow Tiscali to activate "a significant part" of its accesses on the newly established network, the companies said in a joint statement.

They said they would subsequently assess the possibility of Tiscali acquiring a stake in FiberCop.

(Reporting by James Mackenzie, editing by Giselda Vagnoni)

((james.mackenzie@thomsonreuters.com; +39 02 66129533 ; Reuters Messaging: Reuters Messaging james.mackenzie.reuters.com@reuters.net))

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