Tim still in the spotlight at Piazza Affari, with the stock which after the +2,11% recorded yesterday, today advances by almost 1% in the wake of the hypothesis of the creation of a cordata which would like to acquire the majority share of 23,7% in the hands of Vivendi. The indiscretion was published by Courier of the Evening a few days ago and continues to push purchases on the stock exchange in a session in which the Ftse Mib rises by 0,47%.
Tim and the consortium hypothesis led by Pezzi and Costamagna
According to rumors, Andrew Pieces, former consultant for Vivendi, e Claudius Costamagna, former president of CDP, would like to create a consortium of investors, which would also include some funds, including the French fund Tikehau and the US fund Blackstone, to make an offer to Vivendi and purchase the 23,7% held by the transalpine company.
The plan, in reality, would provide the initial purchase of a 6-7% stake, to a single digit of 500 million euros and, subsequently, an offer to take over the entire shareholding.
The operation, according to the Courier, would be preliminary to one Tim's “stew”, which today has three main assets: Tim Consumer, Tim Enterprise and Tim Brasil. Three assets that currently appear undervalued and which the "Free-to.Run" plan developed by management aims to enhance.
At the moment both Costamagna and Pezzi have denied the news, but the rumors continue to persist in the market.
Vivendi would receive 0,46 euros per share, double the current market price
The experts underlined that a valuation of 500 million euros for 6-7% of Tim's capital would be very high and it would imply a valuation of 0,46 euros per share, practically double compared to the current market price, which fluctuates between 0,23 and 0,24 euros per share.
Dal canto suo, Vivendi is already ready for an extraordinary operation. The number one De Puyfontaine, on the occasion of the presentation of the quarterly accounts, had already announced that in 2025 a new chapter “without Tim”.
