Tim, exclusive to Kkr for the Netco negotiation
The board of Tim has concluded, as promised, the examination of the final non-binding offers on the activities related to the fixed network (including FiberCop e Sparkle) which, a note points out, is expected to be concentrated in a soon-to-be-established company (Netco).
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“Following a broad and in-depth debate, conducted with the assistance of leading financial advisors (Goldman Sachs, Mediobanca e Vitale & Co) and in the light of the investigation carried out by the Related Parties Committee (in turn assisted by LionTree ed Equity as independent advisors), the BoD considered that the offer presented by Kkr was found to be preferable in terms of feasibility and related timing, as well as superior to the competing offer presented by the consortium formed by Cdp Equity e Macquarie Infrastructure and Real Assets (Europe) Limited”.
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“The board of directors”, continues the note, “however “expressed its appreciation to the consortium formed by Cdp Equity and Macquarie Infrastructure and Real Assets for the interest shown and the effective participation in the competitive process”.
Offer no later than September 30th
The board has mandated the managing director Peter Labriola to start negotiations and arrive at a binding offer to be presented as soon as possible and in any case no later than 30 September.
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