KKR, CVC Capital In Talks To Jointly Bid For Telecom Italia – Bloomberg News

KKR & Co and CVC Capital Partners are contemplating teaming up on a bid for Italy-based Telecom Italia SpA, Bloomberg News reported on Thursday, citing individuals with data of the matter.

The two private-equity corporations have held exploratory talks in regards to the potential for a joint supply, the report added, quoting individuals asking to not be recognized because the talks are non-public.

CVC Capital declined to remark. KKR and Telecom Italia didn’t reply to a Reuters request for remark.

CVC has been finding out a doable acquisition of Telecom Italia for a number of months, the individuals have been quoted as saying within the Bloomberg News report, including that the private-equity corporations are nonetheless discussing the deserves of teaming up for the joint bidding.

KKR had made a 10.eight billion euro ($12 billion) supply within the midst of a boardroom row between Telecom Italia CEO Luigi Gubitosi and the previous Italian telecoms monopoly’s high investor Vivendi.

Gubitosi advised the board that he’s able to step apart to hurry up a choice on the KKR supply, in line with sources.

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