NEW YORK (Agefi-Dow Jones) – Private equity firm KKR & Co. has submitted a € 10.8 billion offer to buy Italian telecommunications operator Telecom Italia and delist it .

In a statement released on Sunday evening, Telecom Italia’s board of directors said KKR had made a preliminary non-binding offer of 50.5 euro cents per share, representing a premium of around 46% over the stock price. Friday closing.

The board described KKR’s offer as “friendly” and said it had met on Sunday to discuss the proposal, which has yet to be approved by Telecom Italia’s directors as well as the government. Italian.

The buyout plan could face opposition from Vivendi, Telecom Italia’s main shareholder.

Telecom Italia stock has fallen 22% in the past six months and has lost about half of its value in the past five years.

-Mike Murphy, MarketWatch

(French version Alice Doré) ed: VLV

Agefi-Dow Jones The financial newswire

Dow Jones Newswires

November 22, 2021 01:23 ET (06:23 GMT)

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