Italian Treasury ready to back KKR-CDP joint bid for Telecom Italia’s grid
Reuters was the first to announce that the Italian Treasury is willing to support a joint offer from KKR and CDP to purchase Telecom Italia's grid. This news caused the company's shares to surge by 8%. The sale of the network is a crucial part of the current TIM management's plan to reduce the company's 25 billion euro debt. However, Vivendi, the company's largest investor, is demanding a valuation of 31 billion euros for the phone group's main asset.0
