07 November 2023, 6:16 pm 1 minute
Reuters exclusively reported that Telecom Italia (TIM) (TLIT.MI) on Sunday approved the 19-billion-euro ($20 billion) sale of its fixed-line network to U.S. private equity firm KKR (KKR.N), becoming the first telecoms group in a major European country to part ways with its landline grid.
To oversee an asset deemed of national strategic importance, Italy’s government has authorised the Treasury to spend up to 2.2 billion euros to take a 20% stake in the network alongside KKR, which is already a minority investor in the grid. The Treasury already controls TIM’s second-largest investor, state lender CDP.
Topics of Interest: Deals
Type: Reuters Best
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story