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

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.

November 26, 2021 / 07:25 AM IST

KKR & Co and CVC Capital Partners are considering teaming up on a bid for Italy-based Telecom Italia SpA, Bloomberg News reported on Thursday, citing people with knowledge of the matter.

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.

CVC Capital declined to comment. KKR and Telecom Italia did not respond to a Reuters request for comment.

CVC 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.

KKR had made a 10.8 billion euro ($12 billion) offer in the midst of a boardroom row between Telecom Italia CEO Luigi Gubitosi and the former Italian telecoms monopoly’s top investor Vivendi.

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Gubitosi told the board that he is ready to step aside to speed up a decision on the KKR offer, according to sources.
Reuters
first published: Nov 26, 2021 07:26 am

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