\"\"
<\/span><\/figcaption><\/figure>By Elvira Pollina
<\/strong>
MILAN: Telecom Italia<\/a> has received a multi-billion euro bid for a controlling stake in its fixed-line network from U.S. fund KKR<\/a>, Italy's biggest phone group said, adding its board would meet on Thursday to discuss the matter.

Telecom Italia (
TIM<\/a>) said the size of the stake that KKR was seeking was yet to be defined, but the move would result in the U.S. firm taking control of a newly created company comprising TIM's domestic landline network as well as a stake in submarine cable unit Sparkle<\/a>.

TIM did not disclose the value of the non-binding bid but a source familiar with the matter said it valued the infrastructure in the region of 20 billion euros ($22 billion).

TIM shares rose as much a 14% in early trading.

KKR, which is already an investor in TIM's network, made a non-binding takeover offer for the group as a whole late in 2021 which TIM eventually rejected.

The network is TIM's most prized asset and key to supporting the 25.5 billion-euro debt load of the former monopoly, which is burning cash in its mature domestic market.

Ceding control of the network to cut debt is a key plank of TIM Chief Executive Pietro Labriola's strategy to revamp the former phone monopoly.

But valuation has proved a stumbling block, with leading TIM investor
Vivendi<\/a> determined to extract a full price.

STRATEGIC ASSET
<\/strong>
As Italy's biggest piece of telecoms backbone, the network is deemed strategic by the government which can block unwanted interest under so-called golden powers rules.

\"The government sees the safeguarding of employment levels and the security of a strategic infrastructure such as the national telecommunications network as key issues\", the
industry<\/a> ministry said in a statement.

Sources told Reuters on Wednesday KKR had informed the Rome government of its intention to submit an offer, which comes as state investor
CDP<\/a> studies its own bid for TIM's grid.

The right-wing administration of Prime Minister Giorgia Meloni has repeatedly said it wants public ownership of the grid, whose value has been a bone of contention between CDP and Vivendi.

But government-sponsored talks involving CDP and Vivendi have proved fruitless.

On Saturday a source close to Vivendi said the media group would consider a possible 24 billion-euro offer for the network by CDP as \"very far\" from what it deems fair.

KKR has already invested 1.8 billion euros in the grid, securing a 37.5% stake in the group's last-mile network.

At the end of last year, KKR held exploratory talks with government officials over a plan to partner with CDP or another state entity to buy 51% of TIM's access network, people familiar with the matter told Reuters in December.
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KKR步骤与收购意大利电信的网格

意大利电信(TIM)股份的大小表示,KKR寻找尚未被定义,但此举将导致美国公司控制的新创建的公司包括蒂姆的国内固定电话网络以及海底电缆股份单位闪闪发光。

  • 更新2023年2月2日下午06:40坚持
阅读: 100年行业专业人士
读者的形象读到100年行业专业人士
由埃尔韦拉Pollina说道

米兰:意大利电信已收到数十亿欧元的控股权收购固话网络从美国基金KKR,意大利最大的手机集团表示,其董事会将在周四开会讨论此事。

意大利电信(蒂姆)股份的大小表示,KKR正在寻求尚未被定义,但此举将导致美国公司控制的新创建的公司包括蒂姆的国内固定电话网络以及海底电缆单位的股份闪耀

蒂姆没有透露的价值不具约束力的收购,但一位知情人士表示,重视该地区基础设施的200亿欧元(合220亿美元)。

广告
蒂姆在早盘交易中股价一度上涨14%。

KKR,这已经是一个投资者在蒂姆的网络中,犯了一个不具约束力的收购要约的组作为一个整体在2021年底蒂姆最终拒绝了。

网络是蒂姆的最宝贵的资产和关键支持25.5欧元前垄断企业的债务负担,这是烧钱的成熟的国内市场。

网络控制权割让给削减债务的一个要点是蒂姆首席执行官皮特Labriola的战略改革前的电话垄断。

但估值已被证明是一个绊脚石,领先蒂姆的投资者维旺迪确定提取完整的价格。

战略资产

是意大利最大的电信骨干,网络被认为是战略由政府根据所谓的黄金权力规则可以阻止不必要的兴趣。

“政府把就业水平的维护和安全战略的基础设施如国家电信网络关键问题”,行业外交部在一份声明中说。

消息人士周三告诉路透,KKR已通知的罗马政府打算提交一份报价,这是国家的投资者CDP研究自己的竞购蒂姆的网格。

右翼政府总理Giorgia梅洛尼一再表示,希望公有制的网格,其价值一直是争论的焦点CDP和威望迪之间。

广告
但政府会谈涉及CDP和威望迪已证实徒劳无功。

周六一位接近威望迪称,媒体集团可能会考虑24欧元收购网络通过CDP为“很远”它认为公平。

KKR已经投资18亿欧元在网格中,获得该集团37.5%的股份的“最后一英里”网络。

在去年年底,KKR与政府官员在举行试探性会谈计划与CDP合作或另一个国家实体购买51%的蒂姆的接入网,知情人士告诉路透社12月。
  • 发布于2023年2月2日下午06:32坚持
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\"\"
<\/span><\/figcaption><\/figure>By Elvira Pollina
<\/strong>
MILAN: Telecom Italia<\/a> has received a multi-billion euro bid for a controlling stake in its fixed-line network from U.S. fund KKR<\/a>, Italy's biggest phone group said, adding its board would meet on Thursday to discuss the matter.

Telecom Italia (
TIM<\/a>) said the size of the stake that KKR was seeking was yet to be defined, but the move would result in the U.S. firm taking control of a newly created company comprising TIM's domestic landline network as well as a stake in submarine cable unit Sparkle<\/a>.

TIM did not disclose the value of the non-binding bid but a source familiar with the matter said it valued the infrastructure in the region of 20 billion euros ($22 billion).

TIM shares rose as much a 14% in early trading.

KKR, which is already an investor in TIM's network, made a non-binding takeover offer for the group as a whole late in 2021 which TIM eventually rejected.

The network is TIM's most prized asset and key to supporting the 25.5 billion-euro debt load of the former monopoly, which is burning cash in its mature domestic market.

Ceding control of the network to cut debt is a key plank of TIM Chief Executive Pietro Labriola's strategy to revamp the former phone monopoly.

But valuation has proved a stumbling block, with leading TIM investor
Vivendi<\/a> determined to extract a full price.

STRATEGIC ASSET
<\/strong>
As Italy's biggest piece of telecoms backbone, the network is deemed strategic by the government which can block unwanted interest under so-called golden powers rules.

\"The government sees the safeguarding of employment levels and the security of a strategic infrastructure such as the national telecommunications network as key issues\", the
industry<\/a> ministry said in a statement.

Sources told Reuters on Wednesday KKR had informed the Rome government of its intention to submit an offer, which comes as state investor
CDP<\/a> studies its own bid for TIM's grid.

The right-wing administration of Prime Minister Giorgia Meloni has repeatedly said it wants public ownership of the grid, whose value has been a bone of contention between CDP and Vivendi.

But government-sponsored talks involving CDP and Vivendi have proved fruitless.

On Saturday a source close to Vivendi said the media group would consider a possible 24 billion-euro offer for the network by CDP as \"very far\" from what it deems fair.

KKR has already invested 1.8 billion euros in the grid, securing a 37.5% stake in the group's last-mile network.

At the end of last year, KKR held exploratory talks with government officials over a plan to partner with CDP or another state entity to buy 51% of TIM's access network, people familiar with the matter told Reuters in December.
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