ADVFN Logo ADVFN

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 discussion Register to chat with like-minded investors on our interactive forums.

MQBKY Macquarie Group Ltd (PK)

125.64
-1.43 (-1.13%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Macquarie Group Ltd (PK) USOTC:MQBKY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -1.43 -1.13% 125.64 124.50 126.23 125.64 124.865 124.88 7,858 21:02:43

Telecom Italia Shares Rise on Fresh Offer for Network Business

06/03/2023 9:04am

Dow Jones News


Macquarie (PK) (USOTC:MQBKY)
Historical Stock Chart


From Jun 2022 to Jun 2024

Click Here for more Macquarie (PK) Charts.

By Adria Calatayud

 

Shares in Telecom Italia SpA rose Monday after the company said it had received a nonbinding offer for its network business from a consortium formed by Italian state lender Cassa Depositi e Prestiti SpA and Macquarie Group Ltd. that rivals an earlier bid by KKR & Co.

At 0832 GMT, shares in the Italian telecommunications company traded 3.6% higher at 0.32 euros ($0.34).

The offer, which expires at the end of March, is for a new company to be set up that would house TIM's network management and infrastructure assets, the company said.

TIM last month said KKR's offer for a stake in the network company didn't fully reflect the value of the assets and its expectations.

Analysts at Bryan Garnier said in a research note Monday that valuation is a key item in the discussion, together with the Italian state's stake and control in the new company. BG estimates the business is worth around EUR21.4 billion, but even a valuation around EUR20 billion should provide a significant support to TIM's current share price, the analysts said.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

March 06, 2023 03:49 ET (08:49 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

1 Year Macquarie (PK) Chart

1 Year Macquarie (PK) Chart

1 Month Macquarie (PK) Chart

1 Month Macquarie (PK) Chart

Your Recent History

Delayed Upgrade Clock