The Court of Milan has dismissed Vivendi’s challenge to the sale of TIM’s network assets to KKR, ruling the company lacked standing. Despite this, Vivendi plans to appeal, arguing the sale should have been approved by shareholders.
TIM enters exclusive negotiations with KKR for its network assets sale, navigating regulatory hurdles and Vivendi’s opposition. Will the deal reach a successful conclusion?
The battle over Telecom Italia seems to have to come to an end, as shareholders were called to elect a new board. Telecom Italia’s directors resigned last March. Paul Singer, head of Elliott Management, an activist fund, was successful to get two thirds of the seats. He won the battle over the French conglomerate, Vivendi. Despite only have 9% of the shares, Elliott was able to impose its team over Vivendi that possesses 24% of Telecom Italia. By pointing out the way Vivendi failed shareholder’s interest in Telecom Italia, Singer was able to get a vote in which they had two options. They could either pick up a board composed of ten Italian business personalities selected by Elliott, or keep a team made of Vivendi’s CEO and its employees for the most part. After that loss, Vivendi stated that it would “take all measures necessary to preserve its value and…
The Italian government’s recent approval of a stake swap transaction between Poste and Cassa Depositi e Prestiti (CDP) is reshaping Telecom Italia (TIM) ownership. Poste’s acquisition of CDP’s 9.8% TIM stake strategically enhances its position in Italy’s telecommunications market.
Iliad is eyeing a major merger with Telecom Italia, aiming to reshape Italy’s telecom landscape. The deal, likely a merger rather than a breakup, faces regulatory scrutiny due to its potential market dominance.
TIM, Italy’s primary telecommunications provider, has confirmed the completion date for the sale of its networks business. In a recent stock market filing, TIM announced that the deal with private equity firm KKR will close on July 1, as planned.
Europe’s telecom industry is alert as the European Union investigates competitive fairness amid KKR’s acquisition of Telecom Italia’s fixed-line network. Questions arise about the impact on market competition and the deal’s opposition by Vivendi, the largest stakeholder in Telecom Italia.
As Germany’s “Gigabit funding 2.0” program faces potential budget reductions, there’s concern it may throttle the rollout process with overcrowded construction capacity, causing a potential lag in projects. Meanwhile, the Federal Ministry for Digital Affairs declares a €3.6 billion allocation for the ourishing fibre-optic network industry.
Diving into the complex dynamics of the telecom industry, Telecom Italia (TIM) pushes forward with the sale of its fixed-line network to US-based KKR, forecasting considerable debt reduction. Yet, Vivendi’s discontent raises questions about ownership rights, stirring an interesting conflict.
Golden opportunity or a hasty gamble? KKR’s pursuit to acquire Telecom Italia’s anticipated NetCo has been met with challenges from Vivendi, TIM’s largest shareholder. Confronting the complexity of separate asset sales and the valuation tug-of-war, it’s clear there’s more to this story than meets the eye.
