{"id":1867604,"date":"2023-03-04T18:11:19","date_gmt":"2023-03-04T23:11:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/board-of-italys-cdp-meets-sunday-over-bid-for-telecom-italia-grid\/"},"modified":"2023-03-04T18:11:51","modified_gmt":"2023-03-04T23:11:51","slug":"board-of-italys-cdp-meets-sunday-over-bid-for-telecom-italia-grid","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/board-of-italys-cdp-meets-sunday-over-bid-for-telecom-italia-grid\/","title":{"rendered":"Board of Italy\u2019s CDP meets Sunday over bid for Telecom Italia grid"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fboard-of-italys-cdp-meets-sunday-over-bid-for-telecom-italia-grid%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1867604&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <br \/>\n<?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"entry-content\">\n<p>Giuseppe Fonte and Elvira Pollina<\/p>\n<p>MILAN (Reuters). -The Italian state investor CDP called a meeting of the board on Sunday. The goal is to approve a non-binding, long-delayed offer for fixed networks from Telecom Italia&#8217;s former phone monopoly Telecom Italia. Three sources familiar with the matter stated that the decision was expected to be approved.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>CDP and Macquarie, an infrastructure fund in Australia, have teamed up to offer Italy&#8217;s top telecommunications infrastructure. This would be similar to the one offered by KKR (U.S. Investment Firm).<\/p>\n<p>Recent reports have indicated that sources told Reuters CDP and Macquarie are ready to estimate TIM&#8217;s grid value at approximately 18 billion Euros ($19 billion), which includes 6 billion euro of debt. <\/p>\n<p>According to the same sources: The offer could also include Telecom Italia\u2019s small rival Open Fiber. CDP, Macquarie and Macquarie would co-invest in it.<\/p>\n<p>Following long negotiations between the government and TIM\u2019s largest shareholders, CDP, and France\u2019s Vivendi which failed to produce any results, KKR\u2019s proposal valued TIM\u2019s grid as a value of around 20 billion Euros including debt, and gave fresh energy to efforts to revive ailing TIM.<\/p>\n<p>Pietro Labriola is the CEO and a major proponent of the Group&#8217;s revival. This includes ceding grid control to pay off a 25 Billion Euro debt pile, as well as exchanging half of TIMs 40,000 staff.<\/p>\n<p>Giorgia Melonsi, Prime Minister of Italy has stated repeatedly that her government is determined to take control over TIM&#8217;s network infrastructure and protect jobs. However, there are no clear guidelines within her administration on how to achieve this goal.<\/p>\n<p>Two government officials stated that the offer by Macquarie and CDP leaves many options open. They did not elaborate.<\/p>\n<p>Vivendi has placed a price of 31 billion Euro on TIM&#8217;s most important asset, which is necessary to make any deal happen.<\/p>\n<p>TIM said KKR has already proposed &#8220;does not fully reflect&#8221; The asset was valued at $2.5 million and the company stated it will seek an improvement offer before the month ends.<\/p>\n<p>KKR&#8217;s non-binding offer to TIM for a controlling share in TIM\u2019s grid has been open to a state-run entity being a minor shareholder. However, CDP is opposed to such a role because of antitrust concerns, sources claimed.<\/p>\n<p>Mario Draghi, Giuseppe Conte and Giuseppe Conte were Meloni&#8217;s forefathers. However, regulations and valuations have hampered efforts to merge TIM&#8217;s Grids with Open Fiber&#8217;s.<\/p>\n<p>($1=0.9406 euros)<\/p>\n<p> (Reporting by Elvira pollina, Giuseppe Fonte and Valentina Za; Writing and Editing done by Valentina Za and David Holmes; Louise Heavens edited).<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/board-of-italys-cdp\/attachment\/telecom-italias-new-logo-for-the-tim-brand-is-seen-2\/\"><\/a><\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;From <a href=\"https:\/\/www.oann.com\/business\/board-of-italys-cdp\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=board-of-italys-cdp\">Board of Italy&#8217;s CDP meets Sunday over bid for Telecom Italia grid<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Giuseppe Fonte and Elvira Pollina MILAN (Reuters). -The Italian state investor CDP called a meeting of the board on Sunday. The goal is to approve a non-binding, long-delayed offer for fixed networks from Telecom Italia&#8217;s former phone monopoly Telecom Italia. Three sources familiar with the matter stated that the decision was expected to be approved. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1889799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[7564,3664,20543,8766,20544,14540,3666,11439,9123],"class_list":["post-1867604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-bid","tag-board","tag-cdp","tag-grid","tag-italia","tag-italys","tag-meets","tag-sunday","tag-telecom"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1867604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1867604"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1867604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889799"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1867604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1867604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1867604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}