ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

TIT Telecom Italia SpA

0.2251
0.0006 (0.27%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Telecom Italia SpA BIT:TIT Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0006 0.27% 0.2251 0.224 0.2252 0.2273 0.2242 0.2243 147,625,871 17:00:00

Telecom Italia Won't Give KKR Due-Diligence Access in Takeover Bid

07/04/2022 5:58pm

Dow Jones News


Telecom Italia (BIT:TIT)
Historical Stock Chart


From Mar 2022 to Mar 2024

Click Here for more Telecom Italia Charts.

By Ed Frankl

 

Telecom Italia SpA said Thursday that it wouldn't give access to due diligence to private-equity firm KKR & Co., which made a 10.8 billion-euro bid ($11.77 billion) to take over the company.

The Italian telecoms operator said KKR sent a letter on Monday, indicating its inability to confirm its preliminary, nonbinding offer made in November without access to due diligence.

Shares fell on media reports of the letter at the time, with the heightened possibility that KKR would drop its offer.

TIM said Thursday that it wouldn't be appropriate to grant KKR access to due diligence it asked for given that the New York-based fund didn't confirm its expression of interest in the company, including the offer price.

"Should KKR submit a deliverable, complete and attractive offer--including, amongst other things, a price per TIM share--TIM board of directors would be open to reconsidering its decision in the interest of all shareholders," the Rome-based company said.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

April 07, 2022 12:43 ET (16:43 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

1 Year Telecom Italia Chart

1 Year Telecom Italia Chart

1 Month Telecom Italia Chart

1 Month Telecom Italia Chart

Your Recent History

Delayed Upgrade Clock