Telecom Italia (TIM), the dominant telecoms operator in Italy, has announced it will engage in formal talks with KKR over the US-based private equity firm’s takeover approach.
TIM became the subject of a takeover bid from KKR back in November. At the time, TIM said that KKR had offered €0.505 per share in cash, a proposal that would give the telco an equity value of €10.7bn.
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