Latest news for Telecom Italia (OTC:TIAOF) Stock

Telecom Italia is the incumbent telecommunications operator in Italy with more than 30% share in the Italian mobile market and 40% share in broadband. In the mobile market, it competes with Vodafone, Wind Tre, and Iliad. After the sale of its fixed network to KKR for EUR 18.8 billion, TIM will become a pure service provider. TIM also has a 20% wireless market share in Brazil and has started building a broadband network in the country, although its reach is very small compared with competitors Telefonica and America Movil.

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KKR&#39;s Kravis Sets Sights On Italian Business Prospects, Moving Past Telecom Italia: Report

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KKR Steps In To Bid For Telecom Italia Grid For Around €20B As Carrier Aims To Cut Debt

TELECOM ITALIA SPA ORD by Telecom Italia S.p.A.

Telecom Italia SpA

Telecom Italia

KKR. &amp; Co. Inc.&#39;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) co-founder&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/sec/insider-trades/none/henry-kravis" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Henry Kravis</a>&nbsp;is reportedly&nbsp;exploring potential prospects in Italy, a move that might result in the U.S. private equity giant increasing its investments in the country.

Kravis, aged 79 years, scheduled meetings in Milan at the end of this week with top officials from at least three Italian private companies in the technology, manufacturing, and automation sectors to review their business plans, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-09-11/kkr-s-kravis-scouts-investments-in-italy-beyond-telecom-italia?srnd=industries-telecom&amp;sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported</a>, citing people familiar with the matter.

The report cited a person close to the fund, who said KKR&#39;s bosses regularly visit the countries where the firm invests.&nbsp;

Also See:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33320584/kkr-takes-chase-private-in-1-3b-deal" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">KKR Takes Chase Private In $1.3B Deal</a>

Kravis&#39;s visit to the country comes just two weeks ahead of KKR&#39;s binding offer for&nbsp;Telecom Italia S.P.A.&#39;s&nbsp;(OTC.: TIAIY) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TIAOF#OTC">TIAOF</a>) landline network, which is expected by Sept. 30, Bloomberg added.&nbsp;

The report noted that the deal may be worth $24.7 billion and would transform the former Italian phone monopoly.&nbsp;

Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/02/30703358/kkr-steps-in-to-bid-for-telecom-italia-grid-for-around-20b-as-carrier-aims-to-cut-debt" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">KKR Steps In To Bid For Telecom Italia Grid For Around &euro;20B As Carrier Aims To Cut Debt</a>

The firm&#39;s most prominent investment in Italy is a &euro;1.8 billion stake in Telecom Italia&#39;s fiber business.

Apart from Italy, KKR is&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34448500/scaling-up-in-indian-retail-kkr-increases-stake-in-reliance-retail-ventures" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">scaling up in the Indian market as well,</a>&nbsp;with an investment of 2,069.50 crore rupees in Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries.

The company increased investment and disclosed a new<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34434656/kkr-boosts-investment-in-usi-insurance-services-reportedly-plans-new-jv-with-japans-sbi-holdings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;equity investment of more than $1 billion&nbsp;</a>in&nbsp;USI Insurance Services.

Price Action:&nbsp;KKR shares traded higher by 0.29% to $63.97 on the last check Wednesday.

KKR's Kravis Sets Sights On Italian Business Prospects, Moving Past Telecom Italia: Report

<ul>
	<li>Telecom Italia SpA&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TIAOF#OTC">TIAOF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TIIAY#OTC">TIIAY</a>) received a multi-billion euro bid for a controlling stake in its fixed-line network from U.S. fund&nbsp;KKR &amp; Co Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), the company&nbsp;<a class="editor-rtfLink" href="https://www.gruppotim.it/en/press-archive/corporate/2023/PR-TIM-NBO-en.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">said</a>&nbsp;in a statement.</li>
	<li>TIM did not disclose the value of the non-binding bid, but a source familiar with the matter said it valued the infrastructure in the region of &euro;20 billion.</li>
	<li>KKR, already an investor in Telecom Italia&#39;s network, made a non-binding takeover offer for the group late in 2021, which Telecom Italia eventually rejected.</li>
	<li>KKR&#39;s bid for the former Italian phone monopoly&#39;s grid would involve taking over a significant amount of debt, which accounts for about half the value of the offer, Bloomberg reported&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-02-02/kkr-bid-said-to-value-telecom-italia-grid-at-about-20-billion?sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">citing</a>&nbsp;people close to the matter.</li>
	<li>Telecom Italia&#39;s board of directors are scheduled to meet later on Thursday to start reviewing the offer and to appoint advisers, they said. A final review could take some weeks, the report added.</li>
	<li>Telecom Italia seeks to sell the network to cut the company&#39;s more than &euro;30 billion gross debt pile.</li>
	<li>The carrier has been holding talks with the government&#39;s financial arm for months. The government wants to retain control over the network, suggesting it might impose the golden share rules to block or limit foreign control over strategic assets.</li>
</ul>

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