- KKR has made a binding offer to buy Telecom Italia’s fixed network business
- The deal aims to help Telecom Italia reduce its €26 billion debt
- KKR’s offer also includes a non-binding offer for Telecom Italia’s subsea cables subsidiary
- Telecom Italia CEO is pushing to sell off the fixed network business to reduce debt
- Italian government has been pressuring telecoms companies to upgrade their networks
KKR has put forward a binding offer to buy Telecom Italia’s fixed network business in an effort to help the company reduce its €26 billion debt. The offer also includes a non-binding offer for Telecom Italia’s subsea cables subsidiary. If accepted, KKR will take control of Telecom Italia’s fixed network business. This move comes as Telecom Italia’s CEO aims to reduce the company’s debt burden, which has become increasingly unmanageable. The Italian government has been pressuring telecoms companies to upgrade their networks, which aligns with wider European Union targets.
