KKR, CVC Capital in talks to jointly bid for Telecom Italia – Bloomberg News

KKR, CVC Capital Partners considering teaming up to bid for Telecom Italia – Bloomberg News
KKR, CVC Capital Partners considering teaming up to bid for Telecom Italia – Bloomberg News   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p> -<span class="caps">KKR</span> & Co and <span class="caps">CVC</span> Capital Partners are considering teaming up on a bid for Italy-based Telecom Italia SpA, Bloomberg News reported https://bloom.bg/3cNCTED on Thursday, citing people with knowledge of the matter.</p> <p>The two private-equity firms have held exploratory talks about the potential for a joint offer, the report added, quoting people asking not to be identified as the talks are private.</p> <p><span class="caps">CVC</span> Capital declined to comment. <span class="caps">KKR</span> and Telecom Italia did not respond to a Reuters request for comment.</p> <p><span class="caps">CVC</span> has been studying a possible acquisition of Telecom Italia for several months, the people were quoted as saying in the Bloomberg News report, adding that the private-equity firms are still discussing the merits of teaming up for the joint bidding.</p> <p><span class="caps">KKR</span> had made a 10.8 billion euro ($12 billion) offer in the midst of a boardroom row between Telecom Italia <span class="caps">CEO</span> Luigi Gubitosi and the former Italian telecoms monopoly’s top investor Vivendi.</p> <p>Gubitosi told the board that he is ready to step aside to speed up a decision on the <span class="caps">KKR</span> offer, according to sources. </p> </div>