There are many issues still open on Telecom starting with the appointment of the new CEO. As several sources report, he is seen as a favorite Pietro Labriola, who could take the place of Luigi Gubitosi even before the board of directors on January 26, the day on which he will be presented to the Board of Directors the business plan. According to what was anticipated by Radiocor, he would have been called for next January 21st extraordinary board of Telecom to appoint the new CEO and according to rumors circulating, the current general manager, Pietro Labriola, who is working on the new business plan of the company, remains in pole position. A first informal presentation of the plan to board members is expected to take place next week, January 18.
Meanwhile Kkr continues to develop the offer for Telecom. According to Bloomberg reports, the American fund Kkr has contacted the sovereign fund of Saudi Arabia, chaired by Saudi Crown Prince Mohammed bin Salman, to seek co-investors to join his proposed takeover of Telecom. Sovereign wealth funds are playing an increasingly important role in supporting private equity firms. The Kkr Fund, attracted by Telecom’s fixed network, had presented one in November proposed by 12.2 billion euros for the acquisition of Telecom. If successful, the deal would rank as one of the largest purchases made in the telecommunications sector by a private equity firm.
The biggest obstacle to the success of the agreement is represented by Vivendi, which believes Kkr’s offer is not in line with Telecom’s fair value and has no intention of selling its shareholding under these conditions. As analysts of Equita, there is still no defined plan and making considerations is now premature as the Board has to take into account the position of all stakeholders. After the strategic partnership between Tim and Fastweb, to create a national FTTH network, the CEO of Fastweb Calcagno showed his appreciation for the project FiberCop. Calcagno foresees a 3 billion euro fixed capital investment plan (capex) by 2025-26 for FTTH, FWA and 5G fiber coverage and the development of cloud and cybersecurity.
Equita analysts maintain a judgment Hold (“Keep”) on the stock with a target price of € 0.32 per share.
Meanwhile, on the stock market, Telecom moves up by 0.58% to 0.45 euros.