Exclusive: Abu Dhabi wealth fund in talks with KKR over Italian grid deal - sources

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By Giuseppe Fonte and Elvira Pollina
ROME (Reuters) - Abu Dhabi's biggest sovereign fund is in talks with U.S. firm KKR to invest in Telecom Italia's (TIM) last-mile network in a deal that has drawn scrutiny from Italy's government, three sources close to the matter told Reuters.
Rome typically welcomes foreign investments but demands assurances that investors will follow the country's national interests. The government has special vetting powers to block unwanted bids in industries deemed of strategic importance.
TIM agreed in August to sell KKR a 37.5% stake of a newly created company, FiberCop, into which it has transferred its 'last-mile' network connecting street cabinets to people's homes.
KKR now wants to sell up to 30% of the unit that will hold that stake to Infinity Investments, a subsidiary ...


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