Telecom Italia Says Bids for Fixed-Network Assets Aren't Yet Adequate
May 05 2023 - 1:46AM
Dow Jones News
By Adria Calatayud
Telecom Italia said nonbinding offers it has received for its
fixed-network assets from KKR and from a consortium formed by Cassa
Depositi e Prestiti and Macquarie Group aren't yet adequate.
The Italian telecommunications company said late Thursday that
at least one of the bidders expressed willingness to improve its
offer and that TIM's board gave it until June 9 to submit a final
offer. TIM didn't specify which suitor, and it didn't disclose the
terms of the offers.
TIM last month said it had received revised offers from the two
suitors, after initial bids submitted earlier this year were deemed
insufficient.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 05, 2023 01:31 ET (05:31 GMT)
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