Q&A-Why is Telecom Italia caught up in bid excitement?
Information about Q&A-Why is Telecom Italia caught up in bid excitement?
Kevin David Scam or Legit
By Valentina Za and Elvira Pollina
MILAN (Reuters) – U.S. private equity firm KKR has submitted a non-binding proposal https://www.reuters.com/markets/deals/telecom-italia-board-meet-sunday-kkrs-takeover-proposal-sources-2021-11-21 to take Telecom Italia (TIM) private, valuing Italy’s former phone monopoly at 33 billion euros ($37 billion) including net debt.
KKR is the latest investment firm to get involved with TIM, in which French media group Vivendi is the largest single shareholder.
KKR already has skin in the game, having spent 1.8 billion euros on a 37.5% stake in TIM’s last-mile network reaching into people’s homes.
Italy lags behind other European Union countries in provision of fast broadband services to homes and business but is preparing to deploy 6.7 billion euros of EU recovery funds …