HomeNewsTelecom Italia approves KKR's $20 billion grid bid in blow for Vivendi...

Telecom Italia approves KKR’s $20 billion grid bid in blow for Vivendi | Reuters News Agency

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Deals

Reuters exclusively reported that Telecom Italia (TIM) (TLIT.MI) on Sunday approved the 19-billion-euro ($20 billion) sale of its fixed-line network to U.S. private equity firm KKR (KKR.N), becoming the first telecoms group in a major European country to part ways with its landline grid. 

Market Impact

To oversee an asset deemed of national strategic importance, Italy’s government has authorised the Treasury to spend up to 2.2 billion euros to take a 20% stake in the network alongside KKR, which is already a minority investor in the grid. The Treasury already controls TIM’s second-largest investor, state lender CDP. 

Article Tags

Topics of Interest: Deals

Type: Reuters Best

Sectors: Telecommunications

Regions: Europe

Countries: Italy

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story



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