US fund makes 'friendly' offer for Telecom Italia
Telecom Italia SpA (TIM) on Sunday confirmed that it had received a “friendly,” non-binding expression of interest by US private equity fund KKR & Co that values the Italian operator at about 10.8 billion euros (US$12.2 billion). An emergency meeting of TIM’s board of directors was called to discuss “a possible public tender offer for the entire share capital of the company” offering an initial 0.505 euros a share, the firm said in a statement afterward. On Friday, TIM shares closed at about 0.35 euros. It said the proposal, aimed at the “delisting” of the company, was subjec...
Source: taipeitimes.com