TIM: KKR hasn't confirmed its interest

(CercleFinance.com) - TIM's Board of Directors met yesterday under the chairmanship of Salvatore Rossi, following the General Meeting of Shareholders which approved the financial statements as at 31 December 2021.


The Board unanimously confirmed its CEO Pietro Labriola in his role.

It also considered the letter it received on 4 April from KKR and acknowledged that KKR said that it had been unable to confirm the terms of the non-binding indicative statement of interest it made on 19 November 2021, including the price of 0.505 euro per share.

KKR listed the circumstances that determined its inability to confirm the potential transaction.

Given KKR's failure to confirm its interest, including the price previously stated therein, the Board has unanimously decided that it would not be appropriate at this time to grant KKR access to due diligence, TIM said.

The share is currently down about 1% in Milan.


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