MILANO – Tim is rekindled on the Stock Exchange, two days from the board of directors that should shed some clarity on the friendly, but not binding offer, which came from the Kkr infrastructural fund which has put on the plate the “indicative” value of 50.5 cents per share.
Telecom’s stock moves up sharply in Piazza Affari, confirming the roller coaster that followed one another after the indication of a takeover bid from the American fund came over the weekend: on Monday it gained 30%, yesterday it lost almost 5% and in the morning it reached a gain of close to + 10% again (follow the title live).
Tim, the data backbone that must remain Italian for Palazzo Chigi
by Carlo Bonini
Even yesterday evening rumors were chasing each other – reported by Bloomberg – that the US fund could have pushed up to the 70-80 cents area. Indications denied by the interested party – Kkr said she was “totally and only focused on the offer presented to Tim’s board on November 21” – but which testify to how the situation is still very fluid: on the other hand, the table is not yet a binding commitment has arrived from the potential buyer. “I read in the newspapers that we did not intervene in time on various occasions, including the latest Tim-Kkr – said the president of Consob, Paolo Savona yesterday – that the offer has not yet taken place but only in an announcement”. Savona pointed out that “we can only intervene when we manage to get the information” and in this case “we have already intervened”.
Tim at the showdown. Vivendi is ready to lunge on Gubitosi
by Sara Bennewitz
What is certain is that Kkr will have to do more to overcome the resistance of Tim’s first shareholder, the French Vivendi, which with its 23.4% has already made it clear that it does not want to pass the hand (also because it is in charge of share of the former Italian monopolist at a price of over 1 euro). Just the company of the financier Bolloré, has rebuilt Republic, he would rather find the bank of Italian institutions and Cassa Depositi e Prestiti (Tim’s second shareholder at 9.9%) to relaunch the industrial plan. The basis of this option, perl, would be the replacement at the top with the revocation of the proxies of Luigi Gubitosi. A step that could be put on the agenda scheduled for Friday, but which has not yet been integrated.
Tim, from the network to submarine cables: this is how much the jewels of the former monopolist are worth
by Sara Bennewitz
The government called itself out of the toto-ceo game: “The executive does not express itself on management – said the Minister of Development Giancarlo Giorgetti yesterday -. The Government will rightly assess the public interest underlying a network that has also strategic profiles when the takeover bid will take place and when the plan will be detailed “.
Also labor unions they make their voices heard in each other. In this very critical phase “for Tim’s future”, maximum clarity is required in evaluating the paths and developments that will take place in the coming days and weeks regarding the solidity of the company, the Single Network and the communications sector. “, the National Secretariats of Slc Cgil – Fistel Cisl – Uilcom Uil underlining how “the government and the company must have as a priority the protection of the employment of the more than 40 thousand employees in the Tim group and of the significant induced activities that revolve around them. A credible, long-term industrial plan is needed, without stews or stews. choices that take away from Tim the value he incorporates “. From the acronyms also comes the request to know the position of the Government and the industrial plan of TIm and a defense of Gubitosi, sending him away would be “a leap in the dark” but not only that, they acknowledge that he has “established correct industrial relations. to job stability, to the relaunch of activities and to a progressive recognition of professional skills “. “This – they write – is not the time to make adventurous choices, without being aware of the government’s assessments, a development plan, decisions on the Single Network, a leap in the dark is not desirable, thinking that the change in management is the right medicine to treat a contagious disease that has long overwhelmed the entire telecommunications sector “.