(ANSA) - MILAN, MARCH 15 - Tim has examined the offer from Cdp and Macquarie and assessed that "like that of KKR, it does not reflect the value of the asset and Tim's expectations" and is opening a competition between the two suitors.
The board of directors, according to a note, "has mandated the Chief Executive Officer, Pietro Labriola, to initiate a regulated process, sending both bidders, through their advisors, a process letter indicating the terms to which they will be given access to further specific information elements, the same for both bidders; the forms through which each of them may submit a non-binding improved offer within the deadline of 18 April".
(HANDLE).
