Telecom Italia Says CDP, Macquarie's Offer Needs Improvement
March 15 2023 - 9:42AM
Dow Jones News
By Giulia Petroni
Telecom Italia SpA said the non-binding offer submitted by
Italian state lender Cassa Depositi e Prestiti SpA and Macquarie
Group Ltd. for its fixed line grid doesn't reflect the asset value
and needs improvement.
The Italian telecommunications company said on Wednesday that it
will provide certain specific information on a nonexclusive basis
to allow the consortium to submit an improved offer, with a
deadline set for April 18.
The offer is for a new company to be set up, known as NetCo,
that would house TIM's fixed-line network management and
infrastructure, including FiberCop's assets and activities, as well
as the stake in Sparkle, the company said.
The information will also be given to KKR & Co, which
submitted an offer to purchase a stake in NetCo in February.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 15, 2023 09:27 ET (13:27 GMT)
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