Italy, KKR discussing terms of state investment into fixed line grid: Report

MILAN: Italy's Treasury and US fund KKR are negotiating a memorandum of understanding that would set the terms of a state-backed bid for Telecom Italia's 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 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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

German space company OHB announces KKR takeover bidBERLIN : OHB on Monday announced a voluntary public tender offer by US investment company KKR for all outstanding shares in the German space technology company, with the Fuchs family to retain permanent control of the company. The deal foresees an offer price of 44 euros ($48.34) per share.OHB said
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »