(Tiper Stock Exchange) – Telecom Italy would be probing the interest of investors for his assets, while the new Meloni government is trying to find an agreement on how to resolve the company’s difficulties. This is what was reported by Reuters which also reports that last month the Italian government froze the offer of Cassa Depositi e Prestiti (Cdp) for the net by Tim, pledging to find the best market options by the end of the year to achieve the goal of bringing the infrastructure under public control.
L’operation – part of a larger project sponsored by the previous government of Mario Dragons to arrive at the creation of the so-called single non-Open Fiber network – it was also a focal point of the strategy of Tim’s CEO, Peter Wheatgrassto reduce the debt of the company, equal to 25 billion net, dividing it into different units. Labriola is trying to prepare for any outcome that will emerge from the talks within the government and is working in particular with the US fund KKR.
Confirmations have also arrived on this front from Bloomberg who reported how kkr extension are actually thinking of launching aoffer for the Telecom Italia network but on condition that the Italian government agrees to participate. The news agency reports that negotiations are underway between the US investment fund and the Italian government on a possible offer for the former telephone monopolist’s network, but only within the framework of a joint venture with a public company or in the case of setting up a new public financial vehicle.
The Telecom share closed up 1.35% in Piazza Affari at 0.2035 euro, after a flare up to 0.21. Last year KKR had submitted a preliminary offer valued at 10.8 billion eurosor for the entire company, which was rejected. However, the US fund already holds one participation in Tim’s last mile net. In the meantime, Tim would also have had contacts with other potential investors interested in acquiring parts of the services, including the French telecommunications group Iliad And Italian post.
Any transaction involving foreign investors and Tim’s assets will be subject to government assessment, based on legislation on the “golden power“, which gives Rome the possibility to block or put conditions on the transaction. However, according to Labriola, the sale of a division that generates about 30% of theEBITDA of the group could be dangerous for Tim’s rating, unless he can snatch a premium rating.