US investment firm KKR is said to be still interested in taking over Telecom Italia (TIM), several months after its initial EUR10.8 billion (USD11.9 billion) approach. A report from Reuters says KKR also wants to discuss the telco’s plans for combining its fixed line assets with those of state-backed wholesale provider Open Fiber. KKR already owns a 37.5% stake in TIM’s last-mile network unit FiberCop.
The investment company says it has had ‘positive exchanges’ with Italian authorities, who are keeping a close eye on developments, with TIM’s network assets viewed as being of strategic importance. TIM’s largest current shareholder, Vivendi of France, has spoken out against KKR’s bid, saying it is too low given the telco’s ‘untapped value’.