MILANO – As already anticipated yesterday evening, the US Kkr fund came forward to acquire the Telecom network infrastructure. The confirmation arrived this morning with a note from the Tlc group explaining that Kkr, a former Telecom shareholder in Fibercop, presented Tim with a non-binding offer for Netco, “a company to be established which coincides with the managerial and infrastructural perimeter of the fixed network”. The offer includes Fibercop and the stake in Sparkle.
The proposal, which would be rather articulated and subject to a series of clauses, photographs the current situation, and therefore does not take into account any aid to the sector that has been discussed in recent weeks, but envisages an enterprise value of Netco of 20 billion.
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“The non-binding offer – explains the note – refers to a shareholding to be defined, it being understood that the purchase would result in the loss of vertical integration with respect to tim. The board of directors will meet today to start the tender review process.
The government note: “We are following carefully. Central employment protection and safety safeguards”
“The government is closely following the offer presented by the Kkr fund for the purchase of a stake in a company to be established that manages Tim’s fixed network, a company that today has a crucial role in telephone services, in the creation of broadband in our country and the infrastructure of the National Strategic Pole”, writes Mimit in a note. “The government – it continues – considers the safeguarding of employment levels and the security of a strategic infrastructure such as the national telecommunications network to be central. On these assumptions, the developments concerning the leading Italian telephone company will be evaluated”.
The title flies on the stock exchange
However, the market reaction to the news was immediate. The Tim stock was priceless at the start of the trading day in Piazza Affari, with a theoretical rise of 13%. Subsequently, the share of the TLCs entered the negotiations, traveling close to +10 percent at 0.2874 euros.