KKR, CVC Capital Partners considering teaming up to bid for Telecom Italia – Bloomberg News


Nov 25 (Reuters) – KKR & Co (KKR.N) and CVC Capital Partners are considering teaming up on a bid for Italy-based Telecom Italia SpA (TLIT.MI), Bloomberg News reported on Thursday, citing individuals with data of the matter.

The two private-equity companies have held exploratory talks in regards to the potential for a joint supply, the report added, quoting individuals asking not to be recognized because the talks are non-public.

CVC Capital, KKR and Telecom Italia didn’t instantly reply to a Reuters request for remark.

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CVC has been learning a doable acquisition of Telecom Italia for a number of months, the individuals had been quoted as saying within the Bloomberg News report, including that the private-equity companies are nonetheless discussing the deserves of teaming up for the joint bidding.

KKR has made a ten.8 billion euro ($12 billion) supply within the midst of a boardroom row between Telecom Italia CEO Luigi Gubitosi and the previous Italian telecoms monopoly’s prime investor Vivendi (VIV.PA), Reuters reported on Thursday. learn extra

Gubitosi informed the board that he’s prepared to step apart to pace up a choice on the KKR supply, in accordance to sources.

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Reporting by Anirudh Saligrama in Bengaluru
Editing by Nick Zieminski

The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo