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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

意大利電信探索KKR 110億美元的收購要約，可能與Open Fibre結盟：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.
  • 意大利電信温泉(場外交易：TIAIY)(場外交易：TIIAY)尋求討論KKR&Co Inc.據路透社報道，(紐約證券交易所股票代碼：KKR)為期四個月的108億歐元(118億美元)收購要約。
  • KKR的出價為每股0.505歐元，比蒂姆3月11日的收盤價溢價75%，而四個月前的收盤價溢價46%，首席執行官皮埃特羅·拉夫裏奧拉認為上次溢價太低。
  • KKR在2021年向Tim支付了18億歐元，獲得了其二級網絡37.5%的股份。
  • KKR希望確保對這家負債累累的前手機壟斷企業的控制權，將其退市，並通過剝離其網絡基礎設施資產來重新推出該公司。
  • 羅馬通過國有貸款機構CDP成為TIM的第二大投資者，CDP擁有Open Fibre 60%的股份，以監管TIM的固話資產。
  • Tim還探索了與國家支持的寬帶競爭對手Open Fibre的可能合作，包括放棄其寶貴的固定固定電話資產的大部分。
  • 與Open Fibre的合併可以為Tim的投資者提供每股1歐元的上行收益。
  • 價格行動：KKR股價週五收低2.17%，報52.29美元。
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