Yet another twist on the network Tim. Tesoro he said he was ready to support a joint offer by Kkr and Cdp and to also involve F2i in the operation in order to put an end to the stalemate on the process of selling the precious asset of the telephone group.
Only late yesterday evening, the company's board of directors had June 9 is the deadline to present potential improved offers, demonstrating in particular the willingness to examine the willingness expressed by at least one of the two bidders – which should be Kkr, which submitted the highest offer – to further up the ante. However, Cdp and Macquarie would not yet be out of the game.
The previous offers for the Tim network and the intervention of the Treasury
Kkr has put 21 billion euros on the plate, Cdp and the Macquarie fund 19,3 billion euros, plus two more in earn outs in the event of a merger between the Tim and Open Fiber networks. Neither offer reaches the valuation deemed appropriate by Vivendi, largest shareholder of the telecommunications group, amounting to 31 billion euros, a figure considered by many to be out of the market.
During recent talks with the parties involved, therefore, the Treasury stated that it would be fin favor of a joint offer by Kkr and Cdp-Macquarie for Tim's network and he would have said he was willing to also involve F2i in the operation, the largest independent Italian manager of infrastructure funds, with assets under management of over 7 billion euros. The end would be to increase the offer, bringing it closer to the amount requested by the first French shareholder and making sure that the spin-off of the network wanted by CEO Pietro Labriola finally goes through.
In this context, on May 10th, the Board of Directors will meet again to examine Tim's quarterly accounts.
The title runs on the Stock Exchange
The news on the network that arrived over the course of the last 24 hours put the Tim stock in order and after having lived through difficult days, today earn 4,5% of its value at 0,259 euro per share, realizing one of the best performances of the Ftse Mib (+2%)
360 million loan from the EIB
This morning, Tim also announced that the European Investment Bank (EIB) has granted the company a loan from 360 million euro dedicated to the enhancement of 5G coverage in Italy. The agreement was finalized today by Gelsomina Vigliotti, EIB Vice-President, Pietro Labriola, Chief Executive Officer of TIM, together with Bernardo Attolico, Chief Business Officer of Sace.
The loan granted by the EIB, e 60% guaranteed by Sace, will allow Tim "to expand the 5G coverage of the population and of the national territory by the end of 2025, also thanks to the use of the 700 MHz bands. The operation supports the objectives of the 'Digital Compass 2030', the European Union's program that defines digital ambitions for the next decade, such as the development of secure and sustainable digital infrastructures, the digital transformation of businesses and the digitization of public services,” Tim explains in a statement.
