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Funds CVC and Advent say open to discussing solution to strengthen TIM

Published 21/11/2021, 18:00
© Reuters. FILE PHOTO: Telecom Italia's logo for the TIM brand is seen on building roof downtown Milan, Italy, May 20, 2016. REUTERS/Stefano Rellandini

MILAN (Reuters) - Private equity funds CVC and Advent said on Sunday they were open to discussing with all stakeholders in Telecom Italia (MI:TLIT) (TIM) ways to strengthen the phone group, as its board meets to discuss a takeover proposal.

© Reuters. FILE PHOTO: Telecom Italia's logo for the TIM brand is seen on building roof downtown Milan, Italy, May 20, 2016. REUTERS/Stefano Rellandini

A meeting of TIM's board is ongoing to discuss the takeover proposal by U.S. fund KKR.

CVC and Advent "are open to dialogue with all shareholders to identify a transparent solution" to strengthen TIM, a spokesperson for the two funds said, adding that they had had no contact with French media group and top TIM investor Vivendi (PA:VIV).

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