KKR and a rival consortium led by Italian sovereign wealth fund CDP and Australian investor Macquarie are planning to submit improved offers for Telecom Italia’s (TIM) network ahead of a 9 June deadline, according to a report by Reuters.
KKR and a rival consortium led by Italian sovereign wealth fund CDP and Australian investor Macquarie are planning to submit improved offers for Telecom Italia’s (TIM) network ahead of a 9 June deadline, according to a report by Reuters.
The debt-laden telecoms firm has rejected previous offers of €21 billion and €19 billion respectively from KKR and the CDP consortium for its domestic landline network and submarine unite Sparkle.
Reuters cites three unnamed sources familiar with the matter as revealing that both parties are expected to make limited improvements to their offers in a bid to seal a deal.
TIM’s directors will review bids received by 9 June at a meeting on 19 June with a response expected by 22 June.
