Banks Seek Buyers for Portion of Telecom Italia’s LBO Financing
- KKR backed purchase of TIM’s grid with €10 billion financing
- Deal expected to be syndicated to infrastructure funds
Telecom Italia headquarters iin Rozzano, Italy.
Photographer: Camilla Cerea/BloombergThis article is for subscribers only.
Some of the banks backing KKR & Co.’s purchase of Telecom Italia SpA’s land line network with a €10 billion ($10.7 billion) infrastructure financing are looking to syndicate the deal this month.
The financing was underwritten at the end of last year by 10 or more banks including BNP Paribas SA, Credit Agricole SA and JPMorgan Chase & Co., according to people familiar with the matter, who spoke to Bloomberg on condition of anonymity.