Telecom Italia Gets Alternative Bid for Network Assets From CDP, Macquarie
March 06 2023 - 1:47AM
Dow Jones News
By Adria Calatayud
Telecom Italia SpA said it has received a nonbinding offer for
full ownership of its network assets from a consortium formed by
Italian state lender Cassa Depositi e Prestiti SpA and Macquarie
Group Ltd., an alternative to an earlier bid by KKR & Co.
The Italian telecommunications company said late Sunday the
offer from the CDP Equity and Macquarie Infrastructure and Real
Assets (Europe) Ltd. consortium expires at the end of March. Since
CDP Equity is a related party to TIM, the offer will be evaluated
by TIM's related parties committee and subsequently by its board at
a meeting on March 15 or at another date, the company said.
The offer is for a new company to be set up that would house
TIM's network management and infrastructure assets, the company
said.
TIM last month said a separate nonbinding offer from KKR for a
stake in TIM's network company didn't fully reflect the value of
the assets and its expectations. KKR's offer has a March 31
deadline, TIM said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
March 06, 2023 01:32 ET (06:32 GMT)
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