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TIM confirms delay to proposed networks buyout

11 Oct 2022

Telecom Italia (TIM) says the parties looking to acquire its fixed network assets have requested more time to evaluate the buyout, ‘given the magnitude of the transaction and the time required to analyse all the information received’. State lender Cassa Depositi e Prestiti (CDP) and investment firm Macquarie, which between them control wholesale provider Open Fiber, have requested the extension to the timeline which initially expected a non-binding offer to be made by the end of this month.

CDP and Macquarie are looking to acquire TIM’s fixed network business and merge it with Open Fiber, while TIM is left to concentrate on its retail operations. Investment firm KKR, which holds a stake in TIM’s last-mile networks unit FiberCop, has confirmed that it ‘intends to remain aligned with TIM’ in the discussions. TIM says the parties will meet this week.

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