Telecom Italia (Neutral) KKR to buy NetCo? Our take
Telecom Italia this morning has announced that they have received a non-binding offer for a stake in their NetCo from KKR. The press reports that this could value the asset as high as €20bn. This story might sound like a repeat of the KKR offer made for the whole of Telecom Italia in 2020 (which never actually materialized) and therefore we assess some of the implications here.Telecom Italia is a telecommunications group based in Italy. Co. is engaged in the communications sector and, particularly, the fixed and mobile national and international telecommunications sector, the television sector and the office products sector. Co. operates mainly in Europe, South America and the Mediterranean Basin. Co.'s operations are organized along two operating segments: Domestic - Italy (providing telephone and data services on fixed-line and mobile networks for final customers (retail) and other operators (wholesale)); and Brazil (operates in the mobile phone, fixed telephony, in long-distance and data transmission markets in Brazil).
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