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Bewegung im Ringen um italienischen Telekomkonzern TIM - Gegenwind für KKR

A movement in the struggle of the Italian telecom group TIM – headwinds for KKR | 05.12.21

Financial investor KKR appears to be facing more headwinds with the planned acquisition of Italian telecoms group TIM.

The main owner of TIM Vivendi is open to the idea that the Italian state will take control of the network infrastructure from TIM (formerly Telecom Italia). “The hypothesis of state control of the network, if it serves the preparation of a state-led strategic project, will be tested with certainty,” a Vivendi spokesperson said in a statement. Vivendi takes care of all developments in favor of the network infrastructure if the group can maintain the value of its holdings at the same time.

Italian media had earlier reported on Vivendi’s plans. Accordingly, the French have been working with Italian bank Cassa Depositi e Prestiti on plans to restart TIM’s business again. TIM under pressure in Italy: recent quarterly results have been disappointing. According to Bloomberg News, Vivendi owns nearly a quarter of TIM. Cassa Depositi e Prestiti is thus the second largest shareholder, with about 10 percent.

Background considerations are the US investor KKR’s attempt to buy TIM. The French rejected the announced offer of 50.5 euro cents per share, or a total of 11 billion euros, as too low. According to Kraisen, KKR is considering countering resistance by increasing its supply. As Bloomberg News reported at the end of November, citing people familiar with the matter, the offer could be increased to about 70 to 80 cents. Some investor advisors even thought 90 cents per share was necessary.

In Italy, the KRR presentation caused quite a stir. The government wants to examine them, but also to ensure that important areas remain under state control, Economic Affairs Minister Giancarlo Giorgetti confirmed last week.

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