Telecom Italia CEO Sees Up to €5 Billion Upside After Grid Sale

Labriola dismissed calls to sell Telecom Italia’s Brazil Unit
Italian government backs Labriola’s plan to sell grid to KKR

WATCH: Telecom Italia Chief Executive Officer Pietro Labriola is confident that his network sale to the US private equity firm KKR will contribute as much as 5 billion euros in upside at the company. He speaks with Bloomberg’s Francine Lacqua on “The Pulse.”Source: Bloomberg

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By Daniele Lepido and Francine Lacqua

April 11, 2024 at 9:06 AM UTC

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Telecom Italia SpA’s blockbuster network sale to the US private equity firm KKR & Co. is fully on track and will contribute to what the former Italian phone monopoly’s head says is €5 billion ($5.4 billion) in upside at the company.

“I’m 100% positive the KKR deal will go ahead and we don’t foresee delays,” Chief Executive Officer Pietro Labriola said in an interview on Bloomberg TV. That deal will give his company a new strategic opportunity and resolve its debt issues, he said.