Tim, the US fund: “The approach is of a friendly nature, soon a confrontation with the Board of Directors”
The American fund Kkr confirm the price of the takeover bid on Telecom Italia previously set at 0.505 euros per share, but at the request of Consob, it clarifies the due diligence assessment times, stating that it awaits the decisions of the Board of Directors.
Kkr “expects to be able to take a decision on the offer” on Tim “and on the related communication pursuant to art. 102 of the TUF following the completion of a due diligence confirming its analyzes which it should not exceed four weeks from the moment in which full access to the relevant documentation will be granted “.
Kkr, he explains, “has not set a deadline for access to due diligence and is awaiting the decisions of Tim’s board of directors on the matter”. “Tim’s Board of Directors with a press release to the market on 21 November – continues KKR – acknowledged having received the NBO and is currently examining the offer. Kkr hopes to be able to discuss the offer and the related process as soon as possible with the board of directors“.
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