KKR clashes with FiberCop over EUR 449M earnings hole, FT says

KKR (KKR) clashed with FiberCop over a projected EUR 449M earnings hole that threatened to derail its plans for the telecoms company it bought last year, Silvia Sciorilli Borrelli of The Financial Times reports. Following the forecast that jeopardized billions in prospective dividends, KKR has tightened its control over FiberCop. Recently, FiberCop’s CEO quit after an issue with KKR and now all significant decisions by his successor are required to receive written approval by one of two executives of KKR’s choosing, an internal memo said, according to the Financial Times.