0
General

Vivendi set to oppose KKR's EUR 11 bln TIM bid - report

Tuesday 23 November 2021 | 12:20 CET | News
Vivendi, the largest shareholder in Telecom Italia (TIM), is currently unlikely to back the EUR 10.8 billion bid by US investment fund KKR to acquire 100 percent of the operator's shares, according to unnamed sources cited by Bloomberg. KKR has offered EUR 0.505 per share, a premium of around 45 percent on the price of TIM's ordinary shares on 19 November, but the French company's 24 percent stake was acquired at an average cost of EUR 1.03, meaning it would face a significant capital loss.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: General
Companies: Telecom Italia / TIM / TIM Brasil / Vivendi
Countries: Italy
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Labriola confirmed as new TIM CEO

Published 24 Jan 2022 08:39 CET | Italy
The board of Telecom Italia (TIM) has appointed TIM Brasil chief Pietro Labriola has its new CEO, replacing Luigi Gubitosi who ...

TIM general manager sets out draft plan to revamp group

Published 19 Jan 2022 10:55 CET | Italy
The new general manager of Telecom Italia (TIM), Pietro Labriola, has presented a draft business strategy to revive the group's ...

TIM board to meet on 21 Jan to name new CEO - report

Published 11 Jan 2022 14:20 CET | Italy | Update: 11 Jan 2022 14:49 CET
The board of Telecom Italia (TIM) will meet on 21 January to finalise the appointment of a new chief executive, reports Reuters, ...

TIM shareholders request meeting to appoint CEO - report

Published 10 Jan 2022 08:53 CET | Italy
A number of directors of Telecom Italia (TIM), above all those representing leading shareholders Vivendi have submitted a request ...

TIM shareholders discussing company revamp - Draghi

Published 22 Dec 2021 15:31 CET | Italy
The main shareholders of Telecom Italia (TIM) remained locked in talks about the future direction of the company in the wake of ...

TIM selects advisors for KKR takeover bid

Published 07 Dec 2021 08:57 CET | Italy
Telecom Italia (TIM) announced that Goldman Sachs and LionTree have been selected to advise the operator on the non-binding ...

Vivendi prepared to discuss state control for TIM's network

Published 06 Dec 2021 10:23 CET | Italy
Vivendi, the largest shareholder in Telecom Italia (TIM), is open to the possibility of ceding control of the latter's fixed ...

Unions preparing to strike over TIM takeover plans

Published 02 Dec 2021 10:22 CET | Italy
Italy's main telecommunications unions are ready to call a strike at Telecom Italia (TIM) due to uncertainty over jobs prompted ...

Telecom Italia CEO resigns following KKR takeover bid, TIM Brasil CEO named general manager

Published 29 Nov 2021 08:39 CET | Italy
Telecom Italia (TIM) announced the resignation of its CEO Luigi Gubitosi following a board meeting held to discuss the EUR 10.8 ...

Govt focused on protecting TIM jobs, technology and infrastructure - PM

Published 26 Nov 2021 08:42 CET | Italy
The Italian government is above all else focused on safeguarding jobs, technology and the network infrastructure at Telecom ...

KKR to look at raising TIM offer to win Vivendi backing - report

Published 25 Nov 2021 09:11 CET | Italy
US investment fund KKR is considering the possibility of raising its opening bid to acquire 100 percent of the shares of Telecom ...

Over 500,000 take part in TIM's '4 Weeks 4 Inclusion' event

Published 24 Nov 2021 14:47 CET | Italy
Telecom Italia (TIM) said over 500,000 people took part in the second edition of its "4 Weeks 4 Inclusion" in-company initiative ...

KKR offers nearly EUR 11 bln to acquire Telecom Italia

Published 22 Nov 2021 08:59 CET | Italy | Update: 22 Nov 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 ...

Gubitosi to continue as TIM CEO following board meeting

Published 12 Nov 2021 09:35 CET | Italy
Telecom Italia (TIM) announced that its board had agreed steps to prepare a new strategic plan due in February at an ...

Telecom Italia revenue declines 2% in Q3, cuts FY profit guidance

Published 28 Oct 2021 08:59 CET | Italy
Telecom Italia (TIM) reported revenues down 2.1 percent year on year to EUR 3.82 billion in the third quarter of 2021, compared ...

Italy applies special powers on TIM to scale back Vivendi influence

Published 17 Oct 2017 08:43 CET | Italy
The Italian government has notified Telecom Italia (TIM) that Prime Minister Paolo Gentiloni signed a decree activating the ...





Calendar   /   Industry Events

25 Jan European 5G Conference
26 Jan AT&T Q4 2021
26 Jan Corning Q4 2021
26 Jan Intel Q4 2021
26 Jan Calix Q4 2021
26 Jan Crown Castle Q4 2021
27 Jan Extreme Networks fiscal Q2
27 Jan Apple fiscal Q1
27 Jan Juniper Networks Q4 2021
27 Jan STMicroelectronics Q4 2021
27 Jan Samsung Electronics Q4 2021
27 Jan MTN Nigeria Q4 2021
27 Jan Elisa Q4 2021
27 Jan Rogers Communications Q4 2021
27 Jan Comcast Q4 2021
27 Jan FCC meeting
28 Jan SK Hynix Q4
28 Jan Charter Communications Q4
28 Jan Telia Lithuania Q4 2021
28 Jan Telia Company Q4 2021
31 Jan KPN Q4 2021
31 Jan Cirrus Logic Q3
31 Jan NXP Semiconductors Q4 2021
31 Jan NEC fiscal Q3
31 Jan Harmonic Q4
01 Feb Tele2 Q4
01 Feb A10 Networks Q4
01 Feb Vantage Towers fiscal Q3
01 Feb Vodacom fiscal Q3
01 Feb EA fiscal Q3
::: More Calendar Items