KKR-backed FiberCop is set to name Nespolo as new CEO, say sources

MILAN, Sept 9 (Reuters) - Marco Nespolo is set to become the new chief executive of KKR-backed Italian telecommunications network FiberCop, two sources familiar with the matter told Reuters.

Nespolo, currently CEO of Italian paper and packaging group Fedrigoni, has been proposed by U.S. investment firm KKR and will be formally appointed this autumn, one of the people said.

The sources spoke on condition of anonymity because the matter is private.

KKR owns 37.5% of FiberCop, which manages Italy's main telecom network, while the government has a 16% stake.

KKR, FiberCop and Fedrigoni declined to comment. Nespolo could not immediately be reached for comment.

FiberCop was spun-off from former phone monopoly Telecom Italia (TIM)  in 2024, when a KKR-led consortium completed an €18.8 billion ($21.86 billion) buyout of the unit, which owns fibre cables stretching over 28 million kilometres across Italy.

As part of the deal, Italy's Treasury took 16% of the wholesale-only connectivity provider, which operates the country's main telecoms infrastructure and employs some 20,000 people.

Under FiberCop's governance arrangements, KKR has the power to propose the chief executive, whose appointment requires the support of Italy's Treasury.

Nespolo is set to take over from veteran executive Massimo Sarmi, who has led FiberCop since the beginning of 2025.

($1 = 0.8601 euros)

(Reporting by Giuseppe Fonte in Rome and Elvira Pollina in Milan, editing by Alvise Armellini)