By Pietro Lombardi

Telecom Italia SpA and Italian telecom company Tiscali SpA have signed a memorandum of understanding to develop a strategic partnership in the ultra-broadband market.

Under the agreement, Tiscali will have a commercial participation in a new co-investment project called FiberCop, which also include KKR Infrastructure Fund.

"The first step of the project is to streamline Tiscali's network, creating the conditions to facilitate the migration of its customers to FiberCop's ultra-broadband network," the companies said Thursday. "This will also allow Tiscali to substantially reduce the network infrastructure costs, avoiding duplications."

The parties will also discuss a possible future acquisition by Tiscali of a stake in FiberCop.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

August 27, 2020 07:38 ET (11:38 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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