Tim, from Kkr non-binding offer to purchase Netco network

According to rumors, the valuation would be around 20 billion. Tim’s Board of Directors will meet today to begin the review process. The title flies on the stock market. The government is following the matter closely

The US fund Kkr moves on its own and late yesterday evening sent Tim a non-binding offer for the purchase of a stake in the future fixed network company Netco which will have Fibercop (the one that sells to operators network access services, of which Kkr is already a shareholder) and the investment in Sparkle. “The non-binding offer” – reads a note from the company – “refers to a stake to be defined, it being understood that the purchase would result in the loss of vertical integration with Tim” . Tim goes public with a bang after Kkr offer. At Piazza Affari, the stock gains 9% to 0.28 euro.

Tim’s board today

The board of directors of the telecommunications group of which the French of Vivendi have 23.7% and the Cassa Depositi e Prestiti – therefore the Ministry of the Economy – 9.8%, will meet during the day to begin examining the proposal . The quota for which Kkr has advanced the offer has not yet been defined. According to rumors, the valuation would be around 20 billion. However, it would be a sum sufficient to allow the US giant to take control of a newly created company that includes Tim’s domestic landline network and a stake in the Sparkle submarine cable unit.

The government reaffirms job protection and safety

The government Melons let it be known that he was “carefully following” the transition given that Tim “today has a crucial role in telephone services, in the creation of broadband in our country and in the infrastructure of the National Strategic Pole”, reads a note from the Ministry of Infrastructure and of transport (Mit). The government “deems the safeguarding of employment levels and the security of a strategic infrastructure such as the national telecommunications network to be central. On these assumptions, the developments concerning the leading Italian telephone company will be evaluated”, concludes the press release.