Final touches to Kkr’s offer for Tim’s network. On Sunday, the US fund and the Ministry of Economy discussed until late in the evening to finalize the proposal, awaited by the telephone group which had set the deadline for the presentation for October 15th. The overall figure of 21 billion recognized as the value of the perimeter of NetCo – the new company to which Tim will confer the primary, secondary and Sparkle networks – would have been improved slightly, with the further provision of possible price adjustments.
The role of the Treasury
The earn out, the additional payment, of 2 billion expected in the event of integration of the Tim network with Open Fiber has also been confirmed, although the perimeter of the assets that would enter into the aggregation could change. The offer defined more precisely what debt Kkr would assume with the purchase of the network, with some improving effects compared to the preliminary offer, and the criteria that will regulate the relationships between NetCo and ServCo, the services company created with the spin-off of the network.
F2i in the consortium
The role of the Mef was also detailed, with the indication of a stake of up to 20% in NetCo and the purchase of the entire capital of Sparkle, the international network company. Which is why all the work on finalizing the proposal was shared with via Xx Settembre. However, the role of F2i, which should enter the consortium with 1 billion euros, which it has started collecting, was not indicated. This morning, before the opening of the stock exchange, a note from the telephone group is expected to confirm the KKR offer.
2023-10-15 21:11:15
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