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KKR, CVC Capital Partners considering teaming up to bid for Telecom Italia – Bloomberg News

reuters ·  Nov 25, 2021 15:00

Nov 25 (Reuters) - KKR & Co KKR.N and CVC Capital Partners are considering teaming up on a bid for Italy-based Telecom Italia SpA TLIT.MI , Bloomberg News reported

on Thursday, citing people with knowledge of the matter.

The two private-equity firms have held exploratory talks about the potential for a joint offer, the report added, quoting people asking not to be identified as the talks are private.

CVC Capital, KKR and Telecom Italia did not immediately respond to a Reuters request for comment.

CVC has been studying a possible acquisition of Telecom Italia for several months, the people were quoted as saying in the Bloomberg News report, adding that the private-equity firms are still discussing the merits of teaming up for the joint bidding.

KKR has made a 10.8 billion euro ($12 billion) offer in the midst of a boardroom row between Telecom Italia CEO Luigi Gubitosi and the former Italian telecoms monopoly's top investor Vivendi VIV.PA , Reuters reported on Thursday.

Gubitosi told the board that he is ready to step aside to speed up a decision on the KKR offer, according to sources.

(Reporting by Anirudh Saligrama in Bengaluru Editing by Nick Zieminski)

((Anirudh.Saligrama@thomsonreuters.com;))

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