Telecom Italia (TIM) has mandated its chairman and CEO to begin formal talks with the US investment fund KKR.
However, it has also at the same time interested in a possible merger with Open Fiber, “continuing negotiations with CDP and talks with the relevant government authorities”.
In a statement about the talks with KKR, TIM added that “the company will hold these activities with the support of its advisors in order to obtain information regarding the attractiveness and deliverability of the potential offer from a financial and industrial point of view, to acquire information on areas that still need to be clarified, defining a limited period and perimeter of a confirmatory due diligence”.
As previously reported by Broadband TV News, last November KKR submitted what it described as a friendly buyout offer for TIM.
KKR already holds a 37.5% stake in TIM’s “last mile” network.
