Telecom Italia wants to marry KKR, to the chagrin of Vivendi
Pietro Labriola, CEO of Telecom Italia. GUGLIELMO MANGIAPANE/REUTERS The French shareholder is worried about the takeover of the Italian operator’s fixed network. On the other side of the Alps, is…
Telecom Italia wants to marry KKR, to the chagrin of Vivendi
Pietro Labriola, CEO of Telecom Italia. GUGLIELMO MANGIAPANE/REUTERS
The French shareholder is worried about the takeover of the Italian operator’s fixed network.
On the other side of the Alps, is the end of the Telecom Italia soap opera in sight? For several months now, the case has been agitating Italy and the telecom galaxy. The national operator, highly indebted and posting large losses (nearly 3 billion euros in 2022 alone), is looking for a buyer for its Netco, an entity including its fixed internet access network. However, on Thursday evening, the Italian operator announced that it had taken a major step in this process: the opening of exclusive negotiations with the American investor KKR. The latter has submitted an offer, the amount of which has not been disclosed but which should be around 23 billion euros. A proposal “preferable in terms of feasibility, deadlines, and superior to the offer submitted by the consortium” composed by the Italian Caisse des dépôts (CDP) and the Australian infrastructure fund Macquarie, estimated the board of directors of Telecom Italia. The two players are indeed competitors of the American group…
