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.
Deals
Telecom Italia approves KKR’s $20 billion grid bid in blow for Vivendi
07 November 2023, 6:16 pm 1 minute
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
