Tim flies to the Stock Exchange, the bet on the arrival of F2i alongside Kkr-Corriere.it

Tim in the sprint at Piazza Affari. The share of the telecommunications companies snatches the best rise in Milan, rising by 3.6% to 0.25 euros thanks to the expectation of the Board of Directors which meets to co-opt the fifteenth director. There is a shortlist of names on the table but the strongest candidate seems to be that of Luciano Carta, promoted and supported by Vivendi, Tim’s leading shareholder with 23.75%

The Network File

The speculation on the network dossier that will have its next step with the board meeting on June 19, when an initial evaluation of the offers presented by Kkr and the Cdp/Macquarie consortium will also push the purchases on the Stock Exchange. The scenario was turbulent both due to the press rumors about the negative assessment of the offers received and due to the expectations for the possible contribution to the match from F2i, the largest independent Italian manager of infrastructure funds. The managing director of F2i, Renato Ravanelli, told Radiocor that the fund is in dialogue with the subjects involved in the operation. An alliance with the American fund Kkr is therefore hypothesized.

The past

At the beginning of May, Tim’s board had issued a note in which it explained that the offers received already then had not been considered adequate, giving the companies time until June 9 to improve them. From press rumors it seems that Kkr has brought its offer to around 23 billion euros, after having offered 21 billion in April. For Cdp / Macquarie, the terms of the new offer are not known but the old one stood at 19.3 billion euros with a higher cash share than that of Kkr. We’ll have to wait until June 19th to get more details. The sale of the network, it should be recalled, is strategic for the reduction of Tim’s debt which in the first quarter of 2023 rose to 25.8 billion euros.