The Telecom community passes to KKR for 18.8 billion | EUROtoday

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It's official: with the closing of the operation, signed at this time, the Telecom community passes to the consortium led by the US fund KKR, by which the Treasury additionally participates with a 20% stake. Tim first transferred the enterprise unit which incorporates the mounted community to FiberCop (an entry community firm, already owned in a minority by Kkr) after which transferred all the Netco infrastructure to the car of the Optics BidCo operation. The Telecom community is valued at 18.8 billion when it comes to enterprise worth (fairness plus debt) which may rise as much as 22 billion with earnouts, upon the incidence of sure circumstances, the primary of which is the potential of a synergistic mixture with Open Fiber, the fiber community firm which is 60% owned by Cdp fairness and 40% by the Australian infrastructure fund Macquarie.

With the sale of the community, Tim's internet monetary debt might be decreased by 14.2 billion, however contemplating separation prices and changes the web impact is 13.8 billion, the corporate introduced.

Following the transaction, Tim's workforce will lower from 37,065 staff to 17,281, equal to 16,135 full-time positions.

“The completion of the operation with Kkr and Mef is the result of two and a half years of work – recalled the CEO of Tim, Pietro Labriola – We have reached a goal that is also a starting point: we have done it by hitting all the objectives that we had announced and respecting all the promised deadlines”. “Tim – underlined Labriola – will remain the reference telco in Italy, postponing the most infrastructured operator and offering innovative services, both on fixed and mobile, to serve families, public administration and businesses”.

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https://www.ilsole24ore.com/art/la-rete-telecom-passa-kkr-188-miliardi-AF8EJ1MC