Reports from Italy suggest that Telecom Italia (TIM) can expect a non-binding offer for its fixed network assets by the end of November, with a binding offer due in January. Reuters says that the TIM board is due to convene on next week to discuss the matter. Earlier this month, state lender Cassa Depositi e Prestiti (CDP) and investment firm Macquarie, which between them control wholesale provider Open Fiber, requested the extension to the timeline which initially expected a non-binding offer to be made by the end of October.
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.
Separately, there is speculation that CVC Capital Partners could be considering a takeover bid for the whole of TIM. The investment firm has already expressed an interest in acquiring TIM’s enterprise services unit. Reuters adds that CVC declined to comment on the reports.
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