MILAN : The board of Italian state investor CDP is due to meet later on Sunday to approve a multi-billion euro non-binding offer for the fixed network of former phone monopoly Telecom Italia, three people with knowledge of the matter said.CDP has teamed up with Australian infrastructure fund Macquarie to
MILAN : The board of Italian state investor CDP is due to meet later on Sunday to approve a multi-billion euro non-binding offer for the fixed network of former phone monopoly Telecom Italia, three people with knowledge of the matter said.
In recent weeks, sources have told Reuters that CDP-Macquarie and KKR have both set an 18-billion-euro enterprise value for TIM's grid. Both figures are below the 31 billion euro price tag Vivendi has set to back selling the grid, for which TIM itself has indicated a valuation of 25 billion euros.
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