Deals
KKR Bid to Value Telecom Italia Grid At About €20 Billion
- Buyout firm’s offer involves taking over significant debt
- Telecom Italia board meets later Thursday after US fund bid
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KKR & Co.’s non-binding offer for Telecom Italia SpA’s network would value the assets at about €20 billion ($22 billion) including debt, as the US private equity giant seeks a controlling stake of the unit, according to people familiar with the matter.
KKR’s bid for the former Italian phone monopoly’s grid would involve taking over a significant amount of debt, which accounts for about half the value of the offer, the people said, asking not to be identified because the details aren’t public.