The American investment fund KKR has declared itself ready to put 10.8 billion euros on the table to buy back the entire capital of the operator, by offering 0.505 euros per share.
This non-binding offer was however deemed too low by its main shareholder, Vivendi.
"Today, the government is not in a position to say" what it intends to do, "there is no predetermined path", assured the President of the Council to the press.
The Italian State is the second largest shareholder of Telecom Italia, with a 9.81% stake held by the Italian Depository (CDP), while Vivendi owns 23.75% of the capital.
KKR has indicated that it intends to "take a decision" on the launch of a public takeover bid (takeover bid) after having had access to TIM's accounts for a thorough audit ("due diligence"), a request which has not yet been accepted by the operator.
"There is a takeover bid that will be announced", with still undefined contours, "a series of negotiations are underway between CDP, Vivendi and the other shareholders of TIM and new ideas emerge almost every week", summarized Mario Draghi.
These remarks reinvigorated the title of TIM, which rose 2.07% on the Milan Stock Exchange to 0.443 euro around 13:15 (12:15 GMT), after rising by more than 3%.
The three priorities of the government in this file are "the protection of employment, infrastructure, that is to say the network, and technology", reaffirmed Mr. Draghi.
"The configuration of the company that will be created" at the end of the negotiations "should allow the achievement of these three objectives", he noted.
Among the hypotheses under study is the splitting of the group's service activities network.
Vivendi has declared itself ready to discuss a takeover by the Italian state of the network of the incumbent operator.
© 2021 AFP