TIM’s board meets as scheduled on Friday to discuss KKR’s offer to buy into the telco’s networks business, despite the fact that the firms have pushed back their deal deadline by a month to accommodate a request from the government.
TIM last week confirmed that it has received a new offer from KKR for its network assets, but while it has committed to examining the bid, it has made it clear that it is also open to other options.
The Italian government this week made it clear that having a publicly-owned high-speed network covering the whole country is its end-goal, not necessarily bringing together the existing infrastructure into one single network.
KKR and Iliad are among those interested in making a bid for TIM’s network assets, it emerged in recent days, with the former purportedly keen to broker a deal by partnering with the Italian government.
KKR has emerged as the favourite to acquire a stake in Vodafone’s towers business and could broker a deal very soon, if it gets its way, it emerged this week.
Entel Chile has announced the sale of its fibre network to a Telefonica/KKR joint venture, bringing in the best part of US$360 million.
Italian telco TIM and Open Fiber – as well as investors CDP, Macquarie and KKR – have signed a document designed to bring the two fibre networks under one roof.
German operator Deutsche Telekom is apparently reviewing bids for its tower business from multiple suitors including Vodafone’s Vantage Towers, KKR, GIP, Cellnex and America Tower Corp.
TIM has instructed its chairman and chief exec to begin formal talks with KKR on the proposed takeover deal, but this story is a long way from its conclusion still.
KKR is apparently still interested in acquiring TIM, but has reportedly shaved around a fifth off its original offer price.
A special committee within the artist formerly known as Telecoms Italia is expected to make a call on the KKR takeover bid by mid-March, a source has told Reuters.
Telefonica is spending a couple of hundred million euros to buy back a stake in its submarine cable business that it sold to KKR almost exactly five years ago.
As the KKR takeover bid for Telecom Italia hangs in the air, the Italian government has signalled that it wants to control key strategic assets.
Luigi Gubitosi, the ex-CEO of Italian operator group TIM, has been given 6.9 million reasons to step down from its board of directors.
Luigi Gubitosi, CEO and GM of the artist formerly known as Telecom Italia, has had his resignation accepted by the TIM board.
The stage is set for the next big boardroom battle at Telecom Italia following a surprise offer to buy it.
TIM and the Italian government appear to be approaching common ground over the future of Italy’s broadband network.
KKR, Cinven and Providence have combined forces to buy Spanish telco MasMovil, but with depressed share prices and regulatory opinions shifting, it could just be the first corporate transaction.
US investment firm KKR has outlined vague plans to fuel growth in the European data centre market with $1 billion for a build-to-suit and roll-up acquisition data centre platform.
KKR is the latest investment firm to pump cash into European telecoms infrastructure, and with traditional investments on wobbly ground, the trend is set to continue.
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