Italy views an offer from private equity fund KKR & Co. for Telecom Italia SpA as too low, people familiar with the matter said, as the government led by Mario Draghi reviews plans to create a single national ultra-broadband network.
State-backed lender Cassa Depositi e Prestiti SpA, which owns 10% of Telecom Italia, currently has a value of 82 euro cents per share on its books for the holding, and would be reluctant to accept KKR’s 50.5 cent per share offer, the people said, asking not to be named discussing confidential matters.
