Takeover bid Tim-Kkr, Vivendi: “Insufficient supply” and after the announcement the stock collapses on the stock market
Vivendi “is a long-term investor in Tim and does not intend to dispose of its stake. “This was declared by a spokesman for the French group, the first shareholder of Tim. Vivendi “reaffirms its willingness to collaborate with the Italian authorities and institutions for the success of the company”. Regarding the current offer of KKR, the position is that “it does not reflect Tim’s true worth“.
As expected, the French of Vivendi, the first shareholders of the telephone company with 23.75% of the capital, reject the 50 cents per share put on the table by the Americans of Kkr. The expression of interest of the US fund for 100% Tim “it does not reflect the real value that the group can express and is insufficient”, In fact, they let the headquarters of the media company controlled by the Bollorè family.
The French have the shares at an average carrying price of € 0.86 already devalued by € 1 and therefore, net of a raise with a counter offer, perhaps embarking on the adventure in Tim some allied fund like Cvc, urge an upward retouching of the Americans’ takeover bid.
Takeover bid Tim-Kkr, in Piazza Affari the stock loses (-1.44%) to 0.44 euros / share
In the meantime, Business Square continues to decline with the Ftse Mib index which loses 1.4%. Evil the title of Tim, which moves into negative territory after yesterday’s jump to + 30% following the statements of Vivendi, according to which the French group, the largest shareholder of Tim, has no intention of divesting its stake and indeed reiterates its willingness to collaborate with the Italian authorities and institutions for the success of the company.
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