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Italy to discuss KKR's move on TIM after binding bid, minister says

Italy to discuss KKR's move on TIM after binding bid, minister says
Italy to discuss KKR's move on TIM after binding bid, minister says Copyright Thomson Reuters 2021
Copyright Thomson Reuters 2021
By Reuters
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MILAN - The Italian government will discuss KKR's proposed takeover on Telecom Italia (TIM) when the U.S. fund makes a binding proposal, Industry Minister Giancarlo Giorgetti said on Wednesday.

TIM said on Sunday it had received a non-binding 10.8 billion euro ($12.10 billion) offer from KKR aimed at taking Italy's biggest phone group private.

Rome has special anti-takeover powers to shield companies deemed of strategic importance from foreign bids.

"It is too early to talk about that," Giorgetti said.

($1 = 0.8926 euros)

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