KKR eyes investment in TIM's fixed-line assets as boardroom war rages -sources
Information about KKR eyes investment in TIM's fixed-line assets as boardroom war rages -sources
Kevin David Scam or Legit
By Valentina Za, Pamela Barbaglia and Giuseppe Fonte
MILAN (Reuters) -Private equity firm KKR is eyeing a further investment in Telecom Italia’s fixed-line network as Italy’s main telecoms group weighs options for its assets to appease top investor Vivendi, three sources close to the matter said.
Vivendi is piling pressure on Telecom Italia (TIM) Chief Executive Luigi Gubitosi after TIM issued two profit warnings in three months, cutting its free cash flow outlook and stoking concerns about its 22 billion euros ($25 billion) in net debt.
KKR last year paid 1.8 billion euros for a 37.5% stake in FiberCop, the unit holding TIM’s last-mile network connecting street cabinets to people’s homes.
The sources said the investor saw favourably the opportunity to boost exposure to TIM’s fixed-line assets as Italy prepares to spend billions of …