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General

KKR offers nearly EUR 11 bln to acquire Telecom Italia

Monday 22 November 2021 | 08:59 CET | News
Update: 22 November 2021 | 10:46 CET
US investment fund KKR has offered EUR 10.8 billion in total to take Telecom Italia (TIM) private in an approach it describes as friendly. In a statement, TIM said its board met under chairman Salvatore Rossi to discuss the "non-binding and indicative" buyout offer at a price of EUR 0.505 per ordinary and saving share, a premium of around 45 percent on the price of the company's ordinary shares. It added that the offer would be conditional upon a minimum level of acceptance of 51 percent for both classes of shares.

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[22/11/2021 10:46- Update: adds TIM comments on due diligence]


Categories: General
Companies: Telecom Italia / TIM / Vivendi
Countries: Italy
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