• Tim, Kkr's proposal gives wings to the stock on the Stock Exchange

  • Tim extraordinary board of directors, hypothesis proposed to purchase from Kkr

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November 23, 2021 Vivendi "reaffirms its willingness to collaborate with the Italian authorities and institutions for the success of the company".

This was stated by a spokesperson for the media company shareholder of the Tim group.

No divestment of the stake, therefore, for the French shareholder.



Vivendi, the majority shareholder of the telecommunications company, puts an end - at least for the moment - to the prospects of a possible sale of the participation in the American fund Kkr after the offer to buy 100% of the shares of the former monopolist at 50 cents a a. The group led by Vincent Bolloré, which still holds a stake of more than 23.7% of the shares, would not intend to sell them at a price lower than what was paid at the time. As for the current offer indicated by Kkr for Tim, Vivendi's spokesperson announced, as already emerged yesterday, the position of the French media company: "it does not reflect Tim's real value".



The asset is fundamental for the European funds of the National Recovery and Resilience Plan for the digital transition, while the Board of Directors is awaited on Friday. Meanwhile, the trade unions will be received by the company on 1 December and ask for government intervention to guarantee employment levels - 40,000 direct workers and 60,000 associated companies - and they say they are ready to mobilize. 



Giorgetti: Kkr offer, we are waiting for details


"The letter defines it as friendly, but we are waiting for the details to see what it consists of. It is difficult to talk about something that lacks substantive elements."

This was stated by the Minister of Economic Development, Giancarlo Giorgetti, on the sidelines of an event in Milan.

"By abstracting ourselves from Tim's case, because the Government does not want to give any kind of evaluation, we are in the presence of a listed company, it is very positive. In my business around the world, too, I try to convince investors at the level of international that Italy is a place to invest ", concluded Giorgetti.