KKR Makes Binding Offer to Buy Telecom Italia Fixed-Line Network
- US firm has valued the network at as much as €23 billion
- KKR made separate offer on Telecom Italia’s Sparkle unit
The Telecom Italia SpA logo in the window of a store in Rome, Italy, on Tuesday, May 31, 2022.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
KKR & Co. submitted an offer for Telecom Italia SpA’s landline grid, even as the long-awaited binding bid excluded the heavily indebted company’s subsea cable unit and raised questions about possible delays. The shares fell in Milan.
Telecom Italia said Monday it received KKR’s bid for its domestic grid unit and that the binding offer will be considered by the company’s board “without delay” following analysis. The phone carrier did not divulge further details or a price in its statement.