«Kkr offer to be evaluated on general interests». Unions in alarm – Corriere.it
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“I think we will not be able to judge the offer of Kkr – replied the Minister of Economy, Giancarlo Giorgetti, on the sidelines of an initiative at the Milan Innovation District -, which we still do not know in detailexclusively according to the principles of profitability or profit because the network is a strategic infrastructure for the country and it is in this aspect that we need to understand how general interests are guaranteed».
The offer
The American fund Kkr presented an offer to the government on Wednesday 1 February to take over the majority of the future network (NetCo) of the Tim group. The offer is non-binding and, according to market sources, would be around 20 billion euros (some say 15-16 billion), but the figure will have to be verified once the conditions are announced. In any case, it would be lower than the amount at which Vivendi would be available to close (around 24 billion), – Tim’s leading shareholder but with no more executive representatives on the board -, which already in November 2021 when Kkr had come forward to buy 100% of the capital of the telephone group, had managed to compact the board and reject the proposal.
The unions ask for a meeting with the government
Meanwhile, the general secretaries of CGIL, CISL and UIL and those of the telecommunications category are asking the government for an “urgent meeting” “to acquire tangible updates on this delicate and complex situation”, the Tim match after the KKR offer and for ” have information on the part of respect for any progress, also with respect to the “technical tables” that have been taking place since December at the Ministry of Enterprise”. The question, they reiterate, “it concerns the employment future of over 80,000 employees, tens of thousands of workers who work for the Tim group and its vast related industries, and the stability of the employment and industrial structures in the telecommunications sector, fundamental for the economy and development of Italy”.
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