Investment company KKR has expressed interest in buying Telecom Italia, offering 10.79 billion euros ($12.17 billion). Shares in the Italian company rose more than 20% this Monday morning in Milan, after the telecommunications company reported late Sunday about the non-binding proposal.
The takeover offer would represent a 45% premium on Telecom shares, compared to Friday’s close, and would include withdrawing it from trading on the exchange, closing the capital.
The indication of interest is subject to a period of four weeks of due diligence on the company’s numbers and to the approval of Italian government agencies. Telecom Italia is subject to special powers of the Italian government in order to guarantee national security.
UBS points out that Prime Minister Mario Draghi’s government has a “strong market culture” and sees room for an agreement.
KKR already has a 37.5% stake in FiberCop, which would allow the group to invest in fiber coverage in areas where Italy has limited service.
French company Vivendi, however, has 23.75% of Telecom Italia and could resist the deal, warn some analysts.
See too
+ Horoscope: check today’s forecast for your sign
+ Video: Driver leaves Tesla car on autopilot and sleeps on SP highway
+ Food stamps: understand what changes with new rules for benefit
+ See which were the most stolen cars in SP in 2021
+ Expedition identifies giant squid responsible for ship wreck in 2011
+ Everything you need to know before buying a crockpot
+ Discovered in Armenia most eastern aqueduct of the Roman Empire
+ US agency warns: never wash raw chicken meat
+ Passenger attacks and pulls out two stewardess teeth
+ Aloe gel in the drink: see the benefits
+ Lemon-squeezing trick becomes a craze on social media
+ Lake Superior: the best freshwater wave in the world?
#KKR #shows #interest #buying #Telecom #Italia #billion #deal #ISTOÉ #MONEY