After AGCOM’s request for a hearing, contacts continue between TIM and those with an interest in the newco
In this context, the Board examined the content of the Consortium’s NBO, also with the help of the analyzes and insights carried out by management with the support of the advisors.
In the light of the information received, the Council has the interest expressed in the aforementioned NBO of the Consortium was greatly appreciated, even considering that the same – like KKR’s NBO – does not reflect the value of the asset and TIM’s expectations.
Therefore, in accordance with what happened in the context of the KKR NBO, to favor the alignment of the conditions of the proposed transaction with the relevant strategic framework for TIM, the Board resolved to make available to the Consortium – not exclusively – some specific informative elements and to request the further information necessary to fully understand the assumptions and economics of the NBO of the Consortium.
- the terms in which they will be given access to further specific information elements, the same for both bidders;
- the forms through which each of them may submit a non-binding improvement offer by the deadline of 18 April 2023.
The Board has also resolved to attribute to the Related Parties Committee the task of carrying out its investigative functions in relation to both offers.