KKR bids for Telecom Italia network
OCTOBER 16, 2023 12.12 EUROPE/LONDON BY CHRIS DZIADUL

Telecom Italia (TIM) has received a binding offer from KKR for NetCo, its fixed network business including FiberCop.

In a statement, TIM adds that regarding its stake in Sparkle, KKR has formulated a new non-binding offer, pending the transmission of a binding offer within 4/8 weeks, at the end of the ongoing due diligence activities, and requesting an exclusivity period until December 20.

TIM goes on to say that the offer on NetCo expires on November 8, subject to the possibility of discussing the terms of further extensions until December 20.

As soon as the analysis is finalised, the binding offer will be brought to TIM’s board of directors’ consideration without delay.