Bloomberg says Italian government expected to choose this offer over KKR’s
According to reports from Bloomberg, Italy is expected to grant preliminary approval to a multibillion-euro counterbid this month for Telecom Italia’s fixed network. It is thought that no final decision has been taken.
The bid by Cassa Depositi e Prestiti (CDP) and Australia’s Macquarie Group counters a €20 billion offer made by KKR, which already has an indirect holding in the netco.
TIM’s view was the KKR’s offer did not reflect the value of the asset.
Top officials met officials from the Italian Prime Minister Giorgia Meloni’s government last Friday to review the latest bid, the Bloomberg report said.
Last month KKR last month extended the deadline for its offer by four weeks to 24 March after a request by the government for more time to analyse the deal and consider the implications of ownership for one of country’s most strategic sectors.