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General

BT Italia bidders looking for price cut - report

Wednesday 6 February 2019 | 10:15 CET | News
Four bidders have been shortlisted to carry out due diligence on BT's Italian assets but the UK group may have to cut the initial price tag if it wants to sell off the unit, according to unnamed sources cited by Reuters. The bidders taking part in the second round of the auction – Telecom Italia (TIM), Wind Tre, VueTel and Retelit – are mainly interested in parts of the business rather than the whole division, which suffered an accounting scandal in 2016 that forced BT to write down its value by GBP 530 million. Indicative bids fell short of BT's expectations, the sources said, and bidders

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Categories: General
Companies: BT / BT Italia / Retelit / Telecom Italia / TIM / Wind Tre
Countries: Italy
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