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Telecom Italia Explores KKR's $11B Takeover Offer, Possible Tie-Up With Open Fiber: Reuters

Telecom Italia Explores KKR's $11B Takeover Offer, Possible Tie-Up With Open Fiber: Reuters

意大利电信探索KKR 110亿美元的收购要约，可能与Open Fibre结盟：路透社
Benzinga Real-time News ·  2022/03/14 07:50
  • Telecom Italia SpA (OTC:TIAIY) (OTC:TIIAY) looked to discuss KKR & Co Inc's (NYSE:KKR) €10.8 billion ($11.8 billion) four-month-old takeover offer, Reuters reports.
  • KKR's bid of €0.505 per share is a 75% premium to TIM's March 11 closing, against a 46% premium four months back, which CEO Pietro Labriola deemed as too low last time.
  • KKR paid €1.8 billion to TIM in 2021 for a 37.5% stake in its secondary network.
  • KKR wanted to secure control of the debt-laden former phone monopoly, delist it and relaunch it by carving out its network infrastructure assets.
  • Rome became the second-biggest investor in TIM through state lender CDP, which owned 60% of Open Fiber, to oversee TIM's fixed-line assets.
  • TIM also explored a possible tie-up with state-backed broadband rival Open Fiber including relinquishing a majority of its prized fixed landline assets.
  • A merger with Open Fiber could provide TIM's investors with an upside of €1 per share.
  • Price Action: KKR shares closed lower by 2.17% at $52.29 on Friday.
  • 意大利电信温泉(场外交易：TIAIY)(场外交易：TIIAY)寻求讨论KKR&Co Inc.据路透社报道，(纽约证券交易所股票代码：KKR)为期四个月的108亿欧元(118亿美元)收购要约。
  • KKR的出价为每股0.505欧元，比蒂姆3月11日的收盘价溢价75%，而四个月前的收盘价溢价46%，首席执行官皮埃特罗·拉夫里奥拉认为上次溢价太低。
  • KKR在2021年向Tim支付了18亿欧元，获得了其二级网络37.5%的股份。
  • KKR希望确保对这家负债累累的前手机垄断企业的控制权，将其退市，并通过剥离其网络基础设施资产来重新推出该公司。
  • 罗马通过国有贷款机构CDP成为TIM的第二大投资者，CDP拥有Open Fibre 60%的股份，以监管TIM的固话资产。
  • Tim还探索了与国家支持的宽带竞争对手Open Fibre的可能合作，包括放弃其宝贵的固定固定电话资产的大部分。
  • 与Open Fibre的合并可以为Tim的投资者提供每股1欧元的上行收益。
  • 价格行动：KKR股价周五收低2.17%，报52.29美元。
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