It’s all going KKR & Co.’s way. The U.S. buyout firm’s tentative 11 billion euros ($12 billion) takeover bid for Telecom Italia SpA received a cautious welcome from Rome on Sunday. Now, rival CVC Capital Partners is considering partnering with KKR, removing a potential competitor for Italy’s national phone company. Telecom Italia boss Luigi Gubitosi offered his resignation to accelerate the transaction, Bloomberg News reported on Thursday.
KKR has certainly done Italy a favor by legitimizing the idea that Telecom Italia is best off broken up and run by a completely fresh pair of eyes. But it should not be seen as the only option for the company.
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November 26, 2021 at 04:33PM
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Telecom Italia Needs an Auction Not a Cosy Deal With KKR - Bloomberg
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