The Italian Telecom Council will meet on Sunday with Reuters on sources of proposal for KKR intervention
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MILAN (Reuters) – Committee Telecom Italia (TIM) (MI 🙂 will meet on Sunday with U.S. KKR funds on a U.S. acquisition proposal that is already an investor in the Italian phone group’s fixed network, two sources on the subject said.
Last year, the KKR paid 1.8 billion euros ($ 2 billion) for a 37.5% stake in FiberCop, a unit with a TIM network that connects street cabinets to people’s homes.
With TIM assessing its options for a fixed debt network as its most valuable asset in tackling declining revenue and earnings, KKR has prepared a proposal to take over the group and network, another person with knowledge of the subject said.
The website of the Italian newspaper Corriere della Sera first reported on the extraordinary council meeting.
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