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TIM Group Announces Non-binding Offer From KKR For Stake In Company
(RTTNews) - TIM Group (TIAOF.PK, TI) announced Thursday that it has received a non-binding offer from KKR & Co., Inc. (KKR) for the purchase of a stake in a company to be set up that matches with the fixed-line network management and infrastructure perimeter, including FiberCop's assets and activities, as well as the stake in Sparkle, known as Netco.
The offer refers to a stake to be defined, on the understanding that the purchase would result in the loss of vertical integration in relation to TIM.
The Board of Directors will meet today to begin the process of examining the non-binding offer.
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KKR To Invest $750 Mln In London-based Zenobe
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KKR Boosts Investment In NetSPI With $410 Mln In New Funding
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Yen Rises Against Majors
The Japanese yen strengthened against other major currencies in the Asian session on Tuesday.
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Europe Car Sales Increase In November
Europe's new car registrations increased for the fifth straight month in November, driven by robust growth in battery electric cars sales, data from the European Automobile Manufacturers' Association, or ACEA, showed Tuesday. Car registrations grew 2.1 percent year-on-year in November but slower that the 5.8 percent rise seen in October.
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