CDP intends to withdraw its offer for Tim’s fixed network, for which it is in competition with the proposal of the US fund Kkr. According to some, he would have weighed the EU’s no in the last few hours.
CDP intends to withdraw its offer for the fixed network of Timfor which it is in competition with the proposal of the US fund Kkr. He writes it Bloombergciting people familiar with the dossier.
Cdpin tandem with the Australian Macquariehad raised its offer last month but is now pulling the plug on that plan, say the sources who asked not to be named.
The antitrust concerns would also partially weigh on CDP’s about-face, considering the role of double shareholder of CDP, which holds 9.81% of Tim and 60% of Open Fiber. A delicate position, in the eyes of Brussels, from a single network perspective. According to some, the EU’s no has weighed heavily in the last few hours.
Tim’s board of directors had asked the two consortiums in contention to review upwards the offers for the network, both considered insufficient, setting the final deadline for June 9 next to advance a final non-binding offer.
Apparently, so far only the American fund KKR has said it is willing to present a new offer.
The Government is closely monitoring the possible employment impact of the agreement to limit any potential impact, which could affect up to 20,000 people in cascades in the entire TLC industry, which has announced a national strike day for 6 June.
2023-05-15 17:57:37
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