Fog over the future of the network, Tim’s stock pays the price of uncertainty on the Stock Exchange

MILAN – Still a thick fog around the Telecom network and Tim’s stock feels the blow on the Stock Exchange, where it moves among the worst. At the start, the share of the former monopolist came to exceed -4.5%, and then rose slightly together with the rest of the list.

According to the latest press rumors, the hypothesis of a common offer, to which the government (which said it was ‘not opposed’) had opened its doors, with the offers of Cdp/Macquarie and Kkr which could have converged, seems to be moving away . According to the reconstruction by Reuters, in fact, the Australian fund would have the cards in hand to pose obstacles of a legal nature to the plan supported by the government to arrive at a joint offer by the same CDP and KKR for the network. Macquaire and Cdp, in fact, are shareholders of Open Fiber and the shareholders’ agreements would give the Australians powers to raise difficulties should Cassa Depositi e Prestiti want to ally with Kkr in putting forward a final offer for Tim’s network.

“This scenario would therefore be less and less likely – commented the analysts of Banca Akros – while even a ‘war’ of raises was already quite remote. From what we understand, only one bidder (Kkr) was ready to raise the offer”. We therefore slip towards the deadline of 9 June by which Tim’s board of directors awaits the improvement of the offer. According to the international agency, the CDP/Macquarie consortium intends to continue its offer and could decide to improve it before the June 9 deadline. “If CDP/Macquarie’s supply falls without a move to KKR, the impact on Tim stock would be negative,” Akros analysts say. “The situation therefore remains rather fluid but does not seem to us to have changed compared to the scenario known in recent days”, they say from the sim Equita instead.