Q&A-Why is Telecom Italia caught up in bid excitement?

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By Valentina Za and Elvira Pollina
MILAN (Reuters) - U.S. private equity firm KKR has submitted a non-binding proposal https://ift.tt/3xkUf5a to take Telecom Italia (TIM) private, valuing Italy's former phone monopoly at 33 billion euros ($37 billion) including net debt.
KKR is the latest investment firm to get involved with TIM, in which French media group Vivendi is the largest single shareholder.
WHY NOW?
KKR already has skin in the game, having spent 1.8 billion euros on a 37.5% stake in TIM's last-mile network reaching into people's homes.
Italy lags behind other European Union countries in provision of fast broadband services to homes and business but is preparing to deploy 6.7 billion euros of EU recovery funds ...


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