Telecom Italia : Italian government strengthens probability of sale of NetCo
>Good news for three reasons - The Italian government has signed a decree allowing it to take as much as a 20% stake in Telecom Italia NetCo, in partnership with KKR's current bid, for up to € 2.2bn, according to the minister for the economy. This is good news for three reasons, in our view:The financial information is sketchy but validates a valuation of ~€ 11bn in equity and ~€ 21bn in enterprise value. KKR's offer is expected to be € 23bn but will probably inc...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).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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