Cassa Depositi e Prestiti breaks the delay and accepts the provocation of the Kkr fund. The Ministry of the Economy’s safe will present a non-binding offer for Tim’s infrastructure network which will be launched through Cdp Equity in tandem with the Macquarie fund, already owner together with Cassa of Open Fiber, the company of Tim’s competitor network . The offer long awaited and blessed by Palazzo Chigi, which has never made a secret of aiming for the nationalization of the telecom network, will concern a newly established company, NetCo, which will include the Tim network and the investment in Sparkle (submarine cables) . The time frame for an evaluation is very short: the proposal will expire on March 31st. The ball now passes to Tim’s board of directors, who for a month has also had the proposal of the US fund Kkr expiring at the end of the month on the table. The current proposal of the fund, however, according to rumors amounts to almost 20 billion euros. A sum of 5 billion less than the entire net financial debt of the company which exceeded 25 billion as of last September 30th. Tim for his part at the end of February had expressed his appreciation for the proposal, while asking for an upwards adjustment. Now arriving from Cassa and Macquarie, according to Il Sole 24 Ore which speaks of greater attractiveness in the cash part of the proposal: 1.5-2 billion more than the 10 billion Kkr. In both cases, the placement of the debt and of the employees of the Tim group after the operation remains to be understood. But above all the position of Tim’s first shareholder, the French holding Vivendi of Vincent Bolloré, which has always claimed a valuation of 31 billion euros for the stake. The ball then, after the board meeting, will pass to the assembly. Or to diplomacy. Previous Article Covid investigation, the message from the mayor of Nembro: “I would have been drastic on clubs and sports, instead the lobbies left them open”
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