Telecom Italia (TIM) says it has, as part of the competitive bidding process relating to its fixed line business Netco, received two new non-binding offers.
They have been submitted by consortium formed by CdP Equity S.p.A. and Macquarie Infrastructure and Real Assets (Europe) Limited, acting on behalf of a group of investment funds managed or advised by the Macquarie Group, and by KKR.
TIM adds that the two non-binding offers will be examined by its board of directors at the meeting scheduled for June 19 and 22, after preliminary investigation by the Related Parties Committee.
Meanwhile, Reuters reports that KKR has raised its bid for TIM’s fixed-line business by over €2 billion to more than €23 billion.
However, this would still fall short of the €30 billion being sought by TIM’s largest shareholder Vivendi.
