CDP and Macquarie may submit joint bid for TIM assets

Italy’s state lender Cassa Depositi e Prestiti (CDP) and Australian investment group Macquarie could be preparing a joint bid for the fixed networks business of Telecom Italia (TIM). A report from Il Messaggero says that the pair – who already cooperate as joint owners of wholesale provider Open Fiber – could submit a non-binding offer for TIM’s NetCo business by 20 January, with the offer valued at around EUR17 billion-EUR18 billion (USD18.0 billion-USD19.1 billion), including EUR10 billion of debt.