KKR, CVC Capital in talks to jointly bid for Italia Telecom – Bloomberg News


KKR & Co and CVC Capital Partners are considering bidding for Italy-based Telecom Italia SpA, Bloomberg News reported Thursday at https://bloom.bg/3cNCTED, citing people with knowledge of the matter.

The report said the two private-equity firms have held exploratory talks about the possibility of a joint offer, citing people who said the talks are private.

CVC Capital declined to comment. KKR and Telecom Italia did not respond to Reuters’ request for comment.

CVC has been studying a possible acquisition of Telecom Italia for several months, people were quoted as saying in a Bloomberg News report that the private-equity firm is still discussing the merits of teaming up for a joint bid.

KKR offered 10.8 billion euros ($12 billion) amid a boardroom row between Telecom Italia CEO Luigi Gubitosi and former Italian telecoms monopoly top investor Vivendi.

According to sources, Gubitosi told the board that he is ready to step aside to expedite the decision on KKR’s offer.

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