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 CDP/Macquarie consortium reportedly withdrew their bid for TIM’s NetCo, leaving KKR as the sole contender. The uncertain outcome hinges on satisfying major shareholder Vivendi’s valuation expectations and resolving potential antitrust concerns, with a complex road ahead.
Telecom Italia (TIM) said it will begin official discussions with KKR nearly four months after the US investment firm made a non-binding offer of $11.8 billion for the business. TIM said it has invited its CEO and chairman to speak with KKR to learn more about its prospective proposal after an almost six-hour board meeting on Sunday. TIM noted in a statement that its board of directors had directed CEO PietroLabriola and chairman Salvatore Rossi to conduct formal conversations with KKR in addition to those already held by its advisers in order to maximize shareholder value in respect to other potential interested parties. The release went on to say that the goal was to get information on the financial and industrial appeal and execution of KKR’s offer, as well as to define the length and breadth of the applicable confirmatory due diligence sought by the fund prior to a…
The Italian telecoms operator TIM is evaluating the US investment group’s KKR expression of interest in acquiring the full capital stake of the company, a potential 11 billion euro transaction. The proposal was lodged by the US investment fund at a price of €0.505 per share, a 45.7 percent premium over the share’s closing price on Friday. TIM described KKR’s expression of interest as “friendly,” with the goal of securing approval from TIM’s board and management. Telecom Italia said its board of directors met and addressed the fund’s interest in initiating a prospective public tender, which is subject to a four-week period of due diligence and clearance from the Italian government, that has veto power over the group’s purchase. Although TIM is a private corporation, because it is considered a strategic asset for Italy, the Italian government has the right to decline any purchase that it believes would…
Private equity firms KKR, Cinven, and Providence may soon exit MasOrange via an IPO, potentially by next year. The mobile giant, formed from Orange and MasMovil’s €22 billion merger, reported strong 2024 earnings. While no decision is final, investor interest is high, and an IPO could reshape Spain’s telecom sector.
Vivendi has reduced its stake in Telecom Italia (TIM) from 23.8% to 18.4%, with plans for a full exit. Tensions arose over TIM’s €22 billion network sale to KKR, which Vivendi legally contested.
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.
T-Mobile US reported strong Q2 2024 performance, adding over 777,000 postpaid phone customers and 406,000 home internet users. Surpassing the 100 million postpaid customer mark, the company revised its full-year guidance upwards. Despite slight churn rate increases, significant investments in fiber and prepaid services underscore T-Mobile’s growth strategy in the VoIP space.
Vodafone Group has strategically sold a 10% stake in Vantage Towers for 1.3 billion euros ($1.4 billion). This aligns with Vodafone’s targets to reduce net debt. Vantage Towers manages 84,600 tower sites, enhancing coverage with small cell systems. The divestment strengthens Vodafone’s financial health while prioritizing debt reduction over asset control.
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.
