Difficult day in Piazza Affari for TIM. In the last hour, the stock of the largest Italian telecommunications company has dropped over 8%, falling below the 0.33 euro area. According to what Il Sole 24 Ore reports today, the telecommunications company led by Pietro Labriola is studying the possibility of a spin-off of the NetCo network infrastructure to list it. The alternative could be the contribution in a newco, which at some point could be merged with Open Fiber. The article also reports that CDP would have suggested involving KKR in the single grid plan.
Meanwhile, today the Financial Times points out in a long article how KKR’s ‘buyout option’ is in doubt. US private equity wants to perform due diligence before launching a binding offer, while management opposes it (if KKR decides to abandon or reduce the offer, this would have a negative impact on the share price).