Sunday, 03 July 2022

TIM refuses to let KKR look at its books

by Harry Baldock, Total Telecom
Friday 08 April 22

The denial likely signals the end of KKR’s takeover ambitions

US private equity firm KKR first made a non-binding bid to take control of Italian operator TIM last year, offering €10.8 billion.  At the time, TIM was in something of a vulnerable position, with then-CEO Luigi Gubitosi coming under fire from shareholders for failing to provide the financial uplift that had been promised. The bid from KKR hasted Gubitosi’s departure, with TIM Brasil’s CEO, Pietro Labriola, taking over as Group CEO at the start of 2022…

US private equity firm KKR first made a non-binding bid to take control of Italian operator TIM last year, offering €10.8 billion.  At the time, TIM was in something of a vulnerable position, with then-CEO Luigi Gubitosi coming under fire from shareholders for failing to provide the financial uplift that had been promised. The bid from KKR hasted Gubitosi’s departure, with TIM Brasil’s CEO, Pietro Labriola, taking over as Group CEO at the start of 2022…

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