Bloomberg announces approval of multibillion-dollar deal between Macquarie and Telecom
2023.03.04 01:45
Bloomberg announces approval of multibillion-dollar deal between Macquarie and Telecom
By Kristina Sobol
Budrigannews.com – State lender CDP and Macquarie Group’s multibillion-euro offer is getting close to preliminary approval in Italy (OTC:). (BIT:) for Telecom Italia ‘s landline network, according to sources cited by Bloomberg News on Saturday.
The report stated that CDP’s and Australia’s Macquarie’s bids could be accepted this month, but that no final decision has been made.
The announcement follows TIM’s announcement last month that the United States fund KKR & Co. Inc. “does not entirely reflect the asset’s value.” By the end of March, TIM stated that its objective was to facilitate an improved offer.
According to the report, senior government officials from the government of Italian Prime Minister Giorgia Meloni met on Friday to examine the most recent details of the bid.
After the government requested the U.S. fund to extend the deadline in order to give it more time to analyze the potential deal, particularly its sway over a sector deemed strategic for the country, KKR extended its offer for TIM’s landline grid by four weeks to March 24.
Meloni’s administration wants to give the public control over TIM’s grid, but the government doesn’t agree on how to do that.
