TIM begins Open Fiber talks with CDP Equity as KKR bid prospect fades

Telecom Italia (TIM) has revealed that it has signed a non-disclosure agreement with CDP Equity S.p.A. to initiate preliminary discussions about the integration of TIM’s network with the network of Open Fiber, in which CDP Equity holds a 60% stake.

Reuters reported that KKR has made it clear that it will not make a bid for the Italian telco without due diligence taking place beforehand.

Both the CDP and CVC discussions are seen as part of an alternative restructuring plan on the part of TIM, highlighting the receding likelihood of a takeover by KKR.