12 Results

Pietro

Search

Following an internal reorganization, Telecom Italia (TIM) has signed a non-disclosure agreement (NDA) with the state investment bank Cassa Depositi e Prestiti (CDP) to begin talks on a possible merger of its fixed network with the state-backed company Open Fiber. This initiative is aimed at reviving a long-standing goal to establish a single fiber network company in Italy.   The notion of combining the networks of the two businesses to create a single national broadband network for Italy has been discussed for at least two years. The government-owned CDP, which has a 60% investment in Open Fiber and a 10% stake in TIM, has long advocated for such an alliance . The government has determined that establishing a unified network will allow for a faster rollout of fiber technology, avoiding an overbuild and maximizing the use of European recovery funding.   The decision comes as TIM CEO Pietro Labriola pushes…

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…