HomeFinancial/RegulationTIM confirms it has received two improved offers for netco

    TIM confirms it has received two improved offers for netco


    The offers are non-binding and from the same bidders whose offers were previously rejected as too low

    TIM said it has received two new, non-binding offers from respectively submitted by the consortium formed by state-backed CdP Equity, Macquarie Infrastructure and Real Assets (Europe), acting on behalf of a group of investment funds managed or advised by the Macquarie Group, and KRR.

    The company announced it would split up the company into a netco and serviceco in 2022, but the process has had many twists and turns.

    In early May, Reuters reported that KKR had submitted a bid of about €21 billion and the Macquarie-led consortium one of about €19 billion. The value of the offers was not publicly disclosed, but they were rejected as too low.

    The new offers will be examined by TIM’s Board of Directors at the meeting scheduled for 19 and 22 June, after preliminary investigation by the Related Parties Committee.