ROMA – Late yesterday evening, the directors of Tim they were reached by a call for today at 15. On the table of today’s extraordinary board there would be an offer from the US fund Kkr, which aims to enter the Italian telecommunications giant’s shareholding structure.
Kkr – through Kkr Infrastructure – he is already a 37.5% shareholder of FiberCop. It is the subsidiary of Tim that aims to install new generation optical fiber in our country and which is also owned by Fastweb (4.5%). At the time of the acquisition of the stake in FiberCop, the Kkr fund moved a figure of 1.8 billion.
But this time Kkr raises the bar a lot and points directly to the parent company, that is, he wants to join Tim. His expression of interest is therefore on the agenda of the Board of Directors today.
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The offer of the Americans has to deal with two unknowns. On the one hand – remember the Corriere della Sera today – ours government it could exercise the golden power to protect a strategic asset for Italy such as the TIM cable network.
On the other hand, the French of Vivendi, which control 23.5% of the capital, could get in the way. But Vivendi’s first statements are relaxing. A spokesperson explains that “Vivendi will collaborate with Italian authorities and institutions for the long-term success of Tim. Vivendi is a long-term investor in Tim and has been from the beginning. “
Not only: “Vivendi firmly denies having had discussions with any fund, and more specifically, with Cvc“for a possible takeover bid on Tim, in response to Kkr’s proposal.
The American fund Kkr is a global investment company. It’s not a hedge fund: its goal is to invest in companies that can generate attractive returns by supporting them in their sector of action.
Founded in 1976 as Kohlberg Kravis Roberts & Co, since 2010 it has been listed on the New York Stock Exchange, and has grown in various sectors, from infrastructure to real estate, completing 280 investments in companies with nearly half a billion in value.
The fund has offices in 21 cities on four continents (America, Europe, Asia and the Middle East). It boasts a team of over 1,700 employees and advisors, including approximately 550 investment professionals