KKR and CVC Capital Partners consider partnering to make offer for Telecom Italia: Bloomberg News

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KKR & Co and CVC Capital Partners are considering teaming up on a bid for Italian company Telecom Italia SpA, Bloomberg News reported Thursday, citing people with knowledge of the matter.

The two private equity firms had exploratory talks on the potential of a joint bid, the report added, citing people asking not to be identified because the talks are private.

CVC Capital, KKR and Telecom Italia did not immediately respond to a request for comment from Reuters.

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CVC has been studying a possible Telecom Italia acquisition for several months, people quoted in the Bloomberg News report said, adding that private equity firms are still discussing the merits of teaming up on the joint tender.

KKR made an offer of 10.8 billion euros ($ 12 billion) amid a dispute between Telecom Italia CEO Luigi Gubitosi and the main investor in the former Italian telecommunications monopoly, Vivendi, Reuters reported Thursday.

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Gubitosi told the board he was ready to step aside to expedite a decision on KKR’s offer, sources said.

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