TIM, Board of Directors in progress: KKR exam and Gubitosi proxies on the table

(Teleborsa) – The extraordinary BoD of TIM called to discuss the takeover bid of the American fund KKR and which will also address the issue of proxies from the CEO, Luigi Gubitosi, who, in order to carry out, calmly and quickly, the analysis of the proposal made by the American fund to buy control of the telephone company, said he was willing to put the proxies back in the hands of the board.

“In order to facilitate the decision-making process on the part of the Board, I make the powers that you have conferred on me available to the BoD, for your opportune evaluation”, wrote the manager in a letter to the directors.
The Labriola candidacy for CEO delegations is strengthened
An expected close confrontation from which a change at the top cannot be excluded. The scenarios are currently still open: should the BoD’s trust fail, one of the possible candidates to take over from Gubitosi, as already leaked in recent weeks, could be Pietro Labriola, current CEO of Tim Brasil.

CVC evaluates joint offer with KKR for takeover bids
Meanwhile, private equity giants KKR and CVC Capital Partners are reportedly considering collaborating on a bid for Telecom Italia, “a move that would help share the financial burden for Europe’s largest leveraged buyout.” Bloomberg writes it citing people close to the dossier. “The two investment companies have had exploratory talks on the possibility of a joint offer” – writes Bloomberg – adding that CVC is “already studying a possible acquisition of Telecom Italia for several months”.

(Foto: © gonewiththewind/123RF)

(Teleborsa) 26-11-2021 16:49

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TIM Board Directors progress KKR exam Gubitosi proxies table

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