Tim, the English CVC fund studies dossier after the “double hit”
Still eyes on dossier Telecom Italia Tim. This time the English fund of private equity Cvc Capital Partner. To reveal it is the newspaper The Republic. The team led by the managing partner Giampiero Mazza managed to sell the two former Sisal companies in which the fund was a shareholder, for a total of almost 3.4 billion. The recent operation now allows the British fund “to focus on the Telecom dossier on which they started working since January 2021”, writes Republic.
According to the newspaper of the Gedi group, there would be the idea “of division of the telephone network from the commercial service, a recurring theme for Tim for years but that no one has ever put into practice “. The CVC plan for Tim has actually been ready since last summer.
“Then in September the fund began to expose its ideas to various people stakeholders of society, the government, the Cdp, Vivendi and also potential investors such as the American fund Kkr. The latter then decided to seek the lunge on November 19, putting € 0.505 on the plate for 100% of Tim without explaining his plan, which he has now entrusted to McKinsey “, he explains. Republic.
Cvc thus remains at the window, convinced that “to conquer a strategic company like Tim it is necessary first to align all the interests involved in a specific project, and only then, if necessary, to proceed with an offer”.
Meanwhile, in the wake of such rumors, which “are supportive for thespeculative appeal his Tim as they outline a very structured interest on the part of Cvc which could emerge in cooperation or in alternative to Kkr“, underline Equita analysts, Piazza Affari remains vigilant and monitors the stock.