MILAN, March 23 (Reuters) – CVC Capital Partners has been looking at the reorganisation under way at Telecom Italia (TIM) (TLIT.MI) for some time but has taken no decision on what to do, a spokesperson for the private equity firm said on Wednesday.
Italian press reported earlier on Wednesday that private equity group CVC was interested in the services arm of TIM once a plan to split the phone group’s network from the rest of the business was completed.
“CVC has been analysing for some time a possible scenario of industrial reorganisation at TIM to identify solutions to help the relaunch of the group… no decision has been taken,” the spokesperson said.
A source confirmed that CVC had been looking at the services business in particular.
TIM said this month that it would start formal talks with KKR (KKR.N) to assess the U.S. fund’s 10.8 billion euro ($11.8 billion) potential offer, almost four months after the approach. read more
TIM is also exploring a possible tie-up with state-backed broadband rival Open Fiber as it pursues an internal restructuring under new CEO Pietro Labriola.
Reporting by Stephen Jewkes, editing by Giulia Segreti
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Source: Reuters
