econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result
Home Business

Shares In TIM Surged On Report About Structure Of Broadband Deal

admin by admin
6월 4, 2022
in Business, Economics
0
Shares In TIM Surged On Report About Structure Of Broadband Deal
0
SHARES
0
VIEWS

Telecom Italia (TIM) shares climbed more than 5% on May 31, pushed up by the most recent report on the structure of a deal to develop a combined broadband network with rival Open Fiber.

Telecom Italia (TIM) in Rome, Italy

Both groups signed a preliminary agreement late on Sunday and daily Il Messaggero reported on Tuesday that state lender CDP would hold the majority share of the combined network, a project which has been proposed for years.

CDP, which already has a stake in the two businesses, is ready to own a 70-77% stake in the combined broadband network, the report said. Infrastructure funds KKR (KKR.N) and Macquarie will hold 10-13% and 12-15% of the entity, respectively, according to Il Messaggero, while Swisscom’s (SCMN.S) unit Fastweb will get a 1-1.5% stake.

None of the parties mentioned in the report gave comments.

Details of the deal, which could see TIM retain only a small stake in the combined entity or exit the fixed network business entirely, are due to be concluded by end-October. Sources have told reporters that options on the table include an absolute sale of TIM’s domestic landline grid in what could be a full-cash transaction.

Pietro Labriola, TIM Chief Executive, is considering recovering the debt-laden group’s fortunes through an allocation of its landline grid from service operations. Additional details could be provided at the company’s Capital Market Day on July 7.

Buy Crypto Now

The preliminary deal last week was also signed by KKR and Macquarie, which hold minority stakes, respectively, in Open Fiber and TIM’s final stage network business. TIM’s shares rose 5.3% by 0820 GMT, maintaining the upward trend for the week as the market embraced signs of progress on revamping the company.

Under pressure for years in its hyper-competitive domestic market, TIM is hoping to raise cash by selling off its landline network, an asset analysts value at between 15 billion to 20 billion euros.

Italy is eager to develop a single broadband network champion to refrain from duplicating investments across the country and to accelerate a fibre optic launch and digitalization of its economy.

($1 = 0.9302 euros)

Tags: business dealsdigitalizationeconomyfiber opticinvesmentmergerssharesstock marketTelecom ItaliaTIM
Previous Post

Gold Drops As Investors Focus On US Jobs Data

Next Post

Credit Suisse Explores Options To Increase Capital – Sources

Related Posts

Bitcoin Is Finally Trading Perfectly Like 'Digital Gold'
Economics

Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

by admin
6,746 ETH Valued At $12M Was Just Burned
Economics

6,746 ETH Valued At $12M Was Just Burned

by admin
Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures
Economics

Bitcoin: What Next After Consolidation Ends?

by admin
US Government Offloads Another 8,200 Bitcoin – On-chain Data
Economics

US Government Offloads Another 8,200 Bitcoin – On-chain Data

by admin
Bitcoin Stumbles As Macro And Regulatory Concerns Arise, What Next?
Economics

Bitcoin Stumbles As Macro And Regulatory Concerns Arise, What Next?

by admin
Next Post
Canada's Banking Regulator Reiterates Creditor Hierarchy After Credit Suisse Deal Riled Bondholders

Credit Suisse Explores Options To Increase Capital - Sources

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect