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MILAN: Telecom Italia SpA is seeking a valuation of around 20bil (US$21.5bil or RM94bil) for the landline network it plans to sell to a state lender and international funds, according to people with knowledge of the matter.
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...
Italy may be dashing closer to having a national broadband operator open to all providers, but there's just one more regulatory hurdle in Rome to surmount. In a journey with more twists than fusilli, Italy's competition authority said Telecom Italia's FiberCop last-mile network grid was a "strategic objective" for Italy and the regulator wanted to be assured there was "healthy, dynamic competition." The Autorità Garante della Concorrenza e del Mercato (AGCM) said it would investigate agreements around creating the FiberCop network, and supply agreements with Fastweb and Tiscali. In a 17-pag...