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KKR to make non-binding Telecom Italia network offer

US private equity firm KKR & Co Inc is on the verge of making a second non-binding offer to acquire debt-laden telecoms group Telecom Italia’s fixed-line network, according to a report by Reuters.

US private equity firm KKR & Co Inc is on the verge of making a second non-binding offer to acquire debt-laden telecoms group Telecom Italia’s (TIM) fixed-line network, according to a report by Reuters.

KKR, which is already an investor in the network having spent €1.8 billion to secure a 37.5% stake in the group’s last-mile network, made an initial non-binding takeover approach in late 2021, which was eventually eventually rejected.

There is no certainty that a deal for the network, which is TIM’s most prized asset, will proceed as the Italian government can use so-called ‘golden powers’ rules to block ‘unwanted interest’ in infrastructure assets deemed as ‘strategic’, said the report. 

News of KKR’s revised offer comes as state investor CDP is reported to working on its own bid for the network.

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