CVC bids for stake in TIM’s enterprise business

CVC Capital Partners has made a non-binding expression of interest to acquire a minority stake in Telecom Italia’s (TIM’s) enterprise services division. A report from Reuters says CVC is looking to buy up to 49% in the unit which offers Cloud, IoT, cybersecurity and connectivity services for corporate clients. CVC is proposing that the business be separated from the main operations of TIM as part of an ongoing group reorganisation. TIM is currently studying a takeover offer from US investment firm KKR.