KKR makes a bid for Telecom Italia

US-based investment company KKR has made a new non-bidding offer to take Telecom Italia (TIM). The undisclosed offer is 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 Sparkle known as “Netco”. TIM, Italy’s biggest telecommunications services […]

Mobile revenues boost Telenor performance as it executes ‘strategic roadmap’

Nordic telco Telenor has reported total revenues of $2.5 billion for Q4, 2022, up 1.9% year on year. Energy costs and copper decommissioning had a negative impact on the group’s performance but overall revenues were buoyed up by mobile. Overall revenues for 2022 were just shy of $10 billion – also up 1.9% year on […]

Telecom Italia says no to KKR

Telecom Italia (TIM) has, as expected, rejected KKR’s call for it to open its books, effectively ruling out a bid from the investment outfit. KKR had said it could not table a bid without due diligence in advance. In a letter to TIM, the company cited TIM’s profit warning in December and lower-than-expected annual results, […]

TIM begins Open Fiber talks with CDP Equity as KKR bid prospect fades

Telecom Italia (TIM) has revealed that it has signed a non-disclosure agreement with CDP Equity S.p.A. to initiate preliminary discussions about the integration of TIM’s network with the network of Open Fiber, in which CDP Equity holds a 60% stake. “The purpose of the agreement signed today is to start negotiations with the goal of […]

Italian government wants say on TIM takeover

The Italian government has said that it wants to control TIM’s key strategic assets in the event of any takeover.  The leading Italian operator, which owns the country’s largest telecoms infrastructure, received a €10.8 billion approach from US-based investment company KKR in late 2021. The deal would take the financially struggling TIM private, offering a […]

TIM reorganises management with technology and strategy chiefs to go

Telecom Italia (TIM) is reorganising its management, with Nicola Grassi, chief technology and operations officer, and Carlo Nardello, chief strategy, business development and transformation officer, both to leave the Company. Grassi’s role will be merged into a new chief network, operations and wholesale office function assigned to Stefano Siragusa who will take on the role […]

Vivendi ‘open’ to TIM network carve out

Vivendi has indicated that it may be open to the Italian state taking control of Telecom Italia’s (TIM) network infrastructure, a likely preliminary to the acquisition of TIM by US-based private equity outfit KKR. A Vivendi spokesperson told La Repubblica newspaper that the French company was interested in any outcome that promoted the efficiency of […]

Fibre growth lifts Movistar Colombia’s TV base to new heights

Movistar Colombia has surpassed the milestone of 20 million customers – the majority of them for its mobile service – and has grown its pay TV base by 80% to over half a million. The Telefónica-owned operator said that growth in its fibre broadband base had boosted take up of its TV offering, which grew […]

KPN rejects bids

Dutch telco KPN has said it has rejected two bids to acquire the company on the grounds that they failed to offer an additional value over the company’s own growth strategy. KPN said that its boards concluded that both approaches fail to provide tangible and material added value over KPN’s recently updated growth strategy KPN […]