|Bid||0.00 x N/A|
|Ask||0.00 x N/A|
|Day's Range||10.18 - 10.18|
|52 Week Range||10.18 - 10.18|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||1.57|
|Forward Dividend & Yield||0.24 (2.39%)|
|Ex-Dividend Date||Jun 21, 2021|
|1y Target Est||N/A|
ROME (Reuters) -Italian state lender Cassa Depositi e Prestiti (CDP) still needs to secure government backing for a counter-offer to U.S. private equity firm KKR's approach to buy Telecom Italia's (TIM) network, sources told Reuters. CDP is working to finalise its offer before Feb. 24, when TIM's board will convene to decide on KKR's non-binding proposal to buy a controlling stake in the phone group's landline infrastructure, two sources close to the matter said.
Telecom Italia (TIM) has received a non-binding bid for a controlling stake in its fixed-line network from U.S. fund KKR, and Italy's biggest phone group said its board would meet again later this month to assess the proposal. KKR's move comes amid fruitless talks over the future of TIM between the government and the group's leading investors, Vivendi and Italian state lender CDP. After a meeting on Thursday over KKR's approach, TIM said its board would regroup on Feb. 24 to decide over the proposal, without providing details over its terms.
Telecom Italia (TIM) said its biggest shareholder Vivendi on Monday relinquished its board seat, as Italy's new government weighed options to take control of the debt-laden former phone monopolist's landline grid. Vivendi Chief Executive Arnaud de Puyfontaine resigned from the board amid discussions in Rome over ways to create a wholesale-only Italian broadband provider. Italy's right-wing government is expected to resume talks with Vivendi and TIM's No.2 shareholder, state lender CDP, on Jan. 25 after a round of negotiations last year failed to yield a deal.