Telecom Italia eyed by couple of private equity firms – reported rumour
23 JUL 2017
Telecom Italia [TLIT:MI], the listed Italian telecommunication company, is rumoured to have been eyed by a couple of private equity firms, reported Il Sole 24 Ore quoting sources. Those funds are considering Telecom Italia, which is trading at 0.8 EUR per share, a good deal.
The report also said that these funds might team up with a strategic player. This weekend, the Italian press focused its attention on the departure of Flavio Cattaneo, the chief executive, who will leave his post on Friday 28 July.
The report also said that alongside the private equity firm there might be a strategic buyer. The report quoted rumours according to which Vincent Bollore, head of Vivendi [VIV:PA], and main shareholder in TI, met with Cesar Alierta, chairman of Spanish telecommunication company Telefonica.
The report said that Bollore has offered its stake in Telecom Italia at a price of EUR 1.5 per share. Vivendi has its share on a book value of EUR 1.1 per share, the report said. Deutsche Telekom and Orange have also been mentioned as potential interested parties for TI, the report said.