MILAN, Jan 23 (Reuters) - The head of FiberCop has step
down after less than seven months at the helm of the Italian
fibre optic grid operator controlled by U.S. fund KKR, a
source with knowledge of the matter told Reuters on Thursday.
FiberCop was spun-off from former phone monopoly Telecom
Italia (TIM) in July, when a KKR-led consortium
completed an 18.8 billion euros ($19.6 billion) buyout of the
unit, which manages fibre cables stretching over 25 million
kilometres across Italy.
As part of the deal, the Italian Treasury took a 16% stake
in the wholesale-only connectivity provider, which is the main
piece of Italy's telecoms infrastructure and employs some 20,000
people.
At the time, the leadership was entrusted to Luigi Ferraris,
a veteran manager who has held top positions at a number of
Italian state-backed companies, including the national railways
and utility Enel.
Ferraris, 62, had been drawing up FiberCop's business plan,
which the company is due to present early this year.
($1 = 0.9593 euros)
(Reporting by Elvira Pollina; Editing by Valentina Za)