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KKR, CVC Capital Partners Consider Teaming Up to Bid on Telecom Italia – Bloomberg News

File Photo: The Tim logo will be seen at its headquarters in Rome, Italy, on November 22, 2021.Reuters / Yala Nardi / File Photo

November 25, 2021

(Reuters) – KKR & Co and CVC Capital Partners are considering working together in a bid for Italy-based Telecom Italia SpA, Bloomberg News reported Thursday at https://bloom.bg/3cNCTED. Cited people with knowledge of the problem.

The report added that the two private equity companies had exploratory consultations on the possibility of joint offers, citing those who sought not to be identified because the consultations are private.

CVC Capital, KKR and Telecom Italia did not immediately respond to Reuters’ request for comment.

CVC has been investigating the potential acquisition of Telecom Italia for several months and reportedly said in a Bloomberg News report that private equity firms are still discussing the benefits of teaming up for joint bidding. ..

According to Reuters, KKR made an offer of € 10.8 billion ($ 12 billion) in a conference room between Telecom Italia CEO Luigi Gubitosi and former Italian telecommunications monopoly top investor Vivendi.

Gubitoshi told the board that he was ready to leave to speed up the decision on KKR’s proposal, sources said.

(Report by Anirudh Saligrama in Bangalore, edited by Nick Zieminski)



KKR, CVC Capital Partners Consider Teaming Up to Bid on Telecom Italia – Bloomberg News

Source link KKR, CVC Capital Partners Consider Teaming Up to Bid on Telecom Italia – Bloomberg News

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