Italy, KKR discussing terms of state investment into fixed line grid - sources
Reuters
Published Aug 08, 2023 19:26
MILAN (Reuters) - Italy's Treasury and U.S. fund KKR are negotiating a memorandum of understanding (MoU) that would set the terms of a state-backed bid for Telecom Italia (BIT:TLIT)'s (TIM) landline grid, two people familiar with the matter said.
The preliminary agreement could be signed as early as this week, one of the sources said, adding that discussions were still ongoing.
The Treasury could join KKR in its preliminary 23 billion euro ($25 billion) bid for TIM's grid and secure a government stake in the venture that will own the network, alongside other potential state-backed investors, the sources said.
Debt-laden TIM has granted KKR an exclusivity period until the end of September to negotiate a binding bid for Netco, a venture comprising both TIM's fixed domestic access grid and submarine cable unit Sparkle.
($1 = 0.9127 euros)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.