Deals
Telecom Italia Pushes KKR to Drop Bid, Join Spinoff Plan
- Carrier eyes new MOU with state lender for single-grid project
- Telecom Italia could announce provisions linked to DAZN deal
This article is for subscribers only.
Telecom Italia SpA is seeking to get KKR & Co. to scrap a 10.8 billion-euro ($12.1 billion) takeover bid for the company by involving the U.S. private equity giant in an in-house plan to spin off its landline network, people familiar with the matter said.
The phone carrier, which has internally valued the bid as too low and lacking enough value-creation, instead wants to involve KKR in a plan to spin the landline network off into a new unit called NetCo, said the people, asking not to be named since the discussions aren’t public.