Telecom Italia receives two new bids for Netco

Telecom Italia (TIM) has announced it has received two new non-binding offers for the acquisition of its infrastructure arm Netco.

In an official statement the company said the two bids were “submitted by the consortium formed by CdP Equity S.p.A. and Macquarie Infrastructure and Real Assets (Europe) Limited, acting on behalf of a group of investment funds managed or advised by the Macquarie Group, and by Kohlberg Kravis Roberts & Co. L.P. (‘KKR’).”

US-based investment company and TIM investor KKR also made a new non-bidding offer to take the company in February. The undisclosed offer was for a purchase of a stake in the company that matches with the fixed-line network management and infrastructure perimeter, including FiberCop’s assets and activities, as well as the stake in Netco.

The two non-binding offers will be examined by TIM’s Board of Directors at the meeting scheduled for 4 May next, after preliminary investigation by the Related Parties Committee.

The sum of the two non-binding offers have yet to be disclosed by the company.