(Finance) – “Today the Memorandum of Understanding (MoU) was signed between the Ministry of Economy and Finance and Kkr. The agreement – explains the MEF in a note – “provides for the formulation of a binding offer which establishes , among other things, the MEF’s entry into the Netco, in the percentage up to 20%”.
The terms of the offer – continues the note – “from the point of view of relations between the parties envisage a decisive role for the government in defining strategic choices. The next steps will relate to the adoption of a Dpcm to complete the procedural process” .
With the Memorandum, the government enters the game of selling the network TIM to the American fund Kkr, effectively becoming a shareholder of the network with up to 20% of NetCo, the company made up of Sparkle’s primary network, secondary network (FiberCop) and submarine cables.
However, the executive ensures a “decisive” role in defining strategic choices.
After days of rising shares with persistent rumors of an acceleration in the dossier, before August 15th, the MEF therefore announced the terms of the memorandum of understanding “signed between the Kkr” and the Government.
The American fund will have to submit a binding offer by September 30th.
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