Tim is back on the stock market, supported by rumors of a possible relaunch of Kkr and waiting for next Friday’s extraordinary Board of Directors. The stock rose by 9.46% to 0.471 euros, against the 0.505 euros proposed by the American fund. Although sources close to the dossier assure that Kkr is totally and only focused and concentrated on the offer presented to Tim’s board on November 21, the sentiment is optimistic on the stock market.
Why a US fund is interested in Tim: we explain the treasure that the company hides
The possible takeover bid by Kkr on Tim at € 0.9 per share, the highest of the price hypotheses that would be discussed within the US fund to convince Vivendi to join the offer according to the Bloomberg agency, would imply a valuation of 19.2 billion euros for all of Tim. This would be 80% more than the € 0.505 per share which represents the price indicated by Kkr in its expression of interest in Tim. In the lower part of the fork, equal to 0.7 euros, Tim would be valued at 15 billion euros, 40% more than the price that Kkr has communicated to Tim that he thinks to offer. In his indiscretions Bloomberg claims that Kkr “has not yet decided if it is available” to raise. “Any revision of the proposal would come only after Kkr has conducted due diligence.” Only the hypothesis, however, made Tim fly on the stock exchange. Yesterday, after the eve of + 30% for the shares of Telecom Italia, a session of gains had arrived (-4.72%).
Tim, Draghi’s neutrality on the Kkr takeover bid is an Atlanticist turning point: Chinese on the corner
Giuliano Balestreri
And in the morning the Minister of Economic Development, Giancarlo Giorgetti, canceled the hearing, which was scheduled for tomorrow in front of Copasir, due to new commitments. This is what is learned from sources of the Committee. Giorgetti’s hearing, which had already been scheduled last week, was also expected because presumably the Tim affair and the Kkr purchase proposal would be dealt with. Giorgetti is the only minister of the Inter-ministerial Committee for the security of the Republic who has not yet been audited by the Committee.