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TIM extends CDP talks but drops exclusivity

31 Oct 2022

Telecom Italia (TIM) has agreed an extension to a memorandum of understanding (MoU) regarding the proposed acquisition of its fixed network assets by a group led by Cassa Depositi e Prestiti (CDP) and the subsequent merger of the networks business with wholesale provider Open Fiber. A non-binding buyout offer had been expected by 31 October, but TIM says the deadline has now been pushed back to 30 November.

Meanwhile, an exclusivity clause has been dropped, meaning TIM is free to begin negotiations with rival bidders. A report from Reuters says TIM shareholder Vivendi had reservations about continuing exclusive talks.

The ongoing discussions involve TIM and its network investment partner KKR, plus Open Fiber shareholders CDP and Macquarie.

Italy, Open Fiber, Telecom Italia (TIM), Telecom Italia Group (TIM Group)

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