Telecom Italia SpA is seeking a valuation of around 20 billion euros ($21.5 billion) for the landline network it plans to sell to a state lender and international funds, according to people with knowledge of the matter.
The accord was also signed by Open Fiber and Teemco, a Luxembourg company controlled by US private equity firm KKR & Co., which owns a stake in Telecom Italia’s FiberCop SpA fiber unit. Macquarie Group Ltd., a minority investor in Open Fiber, also signed the deal.
Telecom Italia earlier this year rejected a 10.8 billion euro takeover proposal from KKR, preferring to push ahead with an in-house plan aligned with the Italian government’s goal of building a single national fiber network while avoiding duplicate investments.
Read more: BNN Bloomberg
