CVC, which made a non-binding offer to acquire a stake in Telecom italia’s business arm, would give the newly formed unit € 6 billion, including debt, a source told Reuters.
CVC sent a letter to Telecom Italia evaluating the activities, the source added.
TIM stressed on Monday that CVC, in an expression of interest, proposed the creation of an entity that would include connectivity features for large corporate clients, cloud, cybersecurity and IoT services.
The European private equity company would be interested in taking over up to 49% of the activities.
CVC, which receives advice from Barclays and Nomura, has requested an exclusive 10-week negotiation period, including an eight-week due diligence.
Source: Capital
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