US hedge fund KKR has made a $12 billion offer to buy Italian telco TIM/Telecom Italia.
TIM said its board of directors met yesterday to discuss the non-binding indication of interest by KKR to take the telco private. The announcement gave no indication of whether the board would accept the deal.
Bloomberg reports that French media firm Vivendi, Telecom Italia’s largest shareholder, is currently unlikely to support KKR’s offer as it is viewed as undervaluing the company.
Source: datacenterdynamics.com
