TIM jumps on reports of fund interest in group's assets
07/04/2022 11:44
** Shares in Telecom Italia (TIM) TLIT.MI rise 5%, boosted by rumours of other funds being interested in the services business that could be spun out of the group ** "As the odds of a tender offer by KKR have become slimmer, the perspectives of corporate action on specific TIM assets are gaining traction," broker Banca Akros says ** In addition to CVC, which has already expressed interest for a stake in TIM's enterprise service business, Apax Partners and Apollo funds are looking at TIM service operations, daily Il Sole 24 Ore says ** Apax partnered with Iliad ILD.PA on an offer for Vodafone Italia earlier this year that was then rejected and Il Sole does not rule out a similar move on TIM's assets ** "If the rumour is confirmed, we think it could be related to the consumer segment of the ServiceCo, whereas CVC's offer relates to the enterprise segment," Intesa Sanpaolo analysts say ** TIM will hold a board meeting on Thursday on the CVC proposal and on KKR's decision to not confirm its offer without due diligence (Reporting by Claudia Cristoferi) ((Claudia.Cristoferi@thomsonreuters.com; +39 3480848422;))