KKR & Co. is open to exploring new deals with Telecom Italia SpA as alternatives to its original 10.8 billion-euro ($11.9 billion) full takeover proposal, according to a letter sent by the U.S. private equity firm late Monday.
Telecom Italia shares rose as much as 2.6%, reversing earlier losses, after Bloomberg reported earlier about a possible new plan from KKR. Representatives for Telecom Italia and KKR declined to comment on the letter.
Separately, CVC Capital Partners last month made a non-binding offer for 49% of Telecom Italia’s new enterprise services unit. Telecom Italia plans to discuss CVC’s bid at a board meeting scheduled for April 7, after the company’s annual general meeting, people familiar with the matter said earlier.
Read more: BNN Bloomberg
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