KKR makes €10.8 billion takeover bid for TIM

The stage is set for the next big boardroom battle at Telecom Italia following a surprise offer to buy it.
Private equity firm KKR has launched a €0.505 per share takeover bid that values the Italian incumbent at €10.79 billion. Add in TIM’s net debt, and that valuation jumps to €32.95 billion.
TIM’s board met to discuss the offer on Sunday, and noted in a statement that KKR’s bid is intended to be a friendly takeover, requiring approval from the board and manage