The offer of the Cdp-Macquarie consortium for the Tim network has been improved and, according to what ANSA learns, has risen to around 19.3 billion. The proposal would have an impact on Tim’s debt, reducing it, by almost 17 billion.
KKR also presented Tim with a new offer for the network. According to what has been learned, the fund has put 1 billion more on the plate than before, 19 billion plus 2 in earn outs, for a total of 21 billion euros.
Tim announces in a note that, as part of the competitive process relating to Netco, the network company, “two new non-binding offers have been received presented, respectively, by the consortium formed by Cdp Equity and Macquarie Infrastructure and Real Assets (Europe) Limited , acting on behalf of a group of investment funds managed or advised by the Macquarie Group, and Kohlberg Kravis Roberts & Co. LP (KKR).” The two non-binding offers will be examined by Tim’s Board of Directors at the meeting scheduled for May 4thsubject to investigation by the Related Parties Committee.
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