Abu Dhabi Fund Joins KKR for Telecom Italia’s Grid (1)

The Abu Dhabi Investment Authority, which controls almost $1 trillion in assets, is part of the KKR & Co.-led consortium acquiring Telecom Italia’s landline network.

ADIA is one of the controlling investors of acquisition vehicle Optics Bidco, according to a statement that Telecom Italia filed late Monday. The sovereign wealth fund’s involvement was first reported by Bloomberg in July.

The bidders have offered to buy Telecom Italia’s fixed network in a blockbuster deal valued at as much as €22 billion ($23.6 billion). KKR has partnered with the Italian government on the deal, which could provide a lifeline ...