TELECOM ITALIA S.P.A. On April 7, 2022, KKR & Co. Inc. announced that it offered non-binding and indicative possible public tender offer to acquire Telecom Italia S.p.A.for €10.8 billion on November 21, 2021. Telecom Italia said it has set up an ad hoc committee to review the non-binding indication of interest received from KKR on November 19 and has appointed Paola Sapienza as lead independent director for the process.
As of March 5, 2022, the Company is due to make a decision on the offer submitted by investor KKR in the middle of March, but a takeover seems increasingly unlikely. As of March 14, 2022, during the meeting of Board of Directors, the management gave a mandate to the President and CEO of the group to start an interview with KKR and the proposal was unanimously accepted. Goldman Sachs and LionTree acted as the financial advisors and Gatti, Pavesi, Bianchi and Ludovici acted as the legal advisors to committee of Telecom Italia S.p.A. Citigroup acted as the financial advisors to KKR.
Morgan Stanley acted as financial advisor KKR & Co. KKR & Co. Inc. cancelled the acquisition of Telecom Italia S.p.A. on April 7, 2022.
The deal was terminated due to less offer price.
