Down session for the main indexes of the stock exchanges of the Old Continent. In Milan, eyes remained focused on Telecom Italia TIM after the news on the network. Bank sales
Sitting down for the main indexes of the stock exchanges of the Old Continent. In Milan, eyes remained focused on Telecom Italia TIM after the news on the network. Bank sales. In sharp decline Saipem.
At 17.25 the FTSEMib recorded a drop of 0.78% to 27,197 points while All Share dropped by 0.76%. In red, but less marked, also Mid Cap (-0.46%) and STAR (-0.55%).
In Milan the eyes of the operators remained focused on Telecom Italia TIM (-0.19%) after the news on the web. Yesterday evening, the company’s board of directors examined the final non-binding offers received regarding the valorisation of assets relating to Tim’s fixed network. Tim felt that thethe offer presented by the American fund Kkr is preferable in terms of feasibility and relative timing, as well as higher than that presented by the CDP-Macquarie consortium. On the basis of this, the board has started, exclusively, an improvement negotiation with the fund with the aim of obtaining the presentation of a final and binding offer according to the best terms and conditions, as well as to agree on the scope, methods and times for the execution of the confirmatory due diligence referred to in the Kkr offer itself.
According to reports from Il Sole24Ore, Telecom Italia TIM He would have rejected the offer of the Cdp-Macquarie consortium both for economic reasons and because Kkr’s offer was deemed preferable in terms of feasibility and relative timing, thus avoiding the antitrust problem. Despite this, it will be necessary to understand the position of Tim’s major shareholder, Vivendi, who rejected the dossier and has not released any comments after the decision taken by the board of directors, waiting for possible improvements to the offer by Kkr.
Bank sales, with UniCredit down by 0.44% e Intesa Sanpaolo down 2.19%. Over 2% discounts BancoBPM (-2,16%) e BPER Bank (-2,11%).
In sharp decline Saipem (-4,44%) e Prysmian (-2,95%).