BRIEF-Telecom Italia Completes Sale Of Netco To KKR

Reuters07-01 23:45

July 1 (Reuters) - KKR & Co Inc :

* SALE OF NETCO TO KKR COMPLETE

* SALE OF NETCO, VALUED AT UP TO €22.0 BILLION, INCLUDING EARN-OUTS LINKED TO FULFILMENT OF CERTAIN CONDITIONS, ALLOWS TIM TO REDUCE ITS NET FINANCIAL DEBT IN LINE WITH ITS PREVIOUS DISCLOSURE TO MARKET

* EXPECTED DELEVERAGE UPON COMPLETION, PENDING CUSTOMARY POST-CLOSING ADJUSTMENTS, IS CONFIRMED AT €14.2 BILLION

* FUTURE BUSINESS RELATIONSHIPS BETWEEN NETCO AND TIM ARE REGULATED THROUGH A 15-YEAR TERM MASTER SERVICE AGREEMENT $(MSA)$, RENEWABLE FOR FURTHER 15 YEARS

* FOLLOWING TRANSACTION, TIM'S TOTAL HEADCOUNT WILL DECREASE FROM 37,065 TO 17,281, EQUAL TO 16,135 FULL-TIME EQUIVALENTS

* MORE DETAILS ON COMPLETION OF TRANSACTION WILL BE PROVIDED DURING PRELIMINARY Q2 2024 RESULTS CONFERENCE CALL ON 1ST AUGUST, 2024

Further company coverage:

(Gdansk Newsroom)

((gdansk.newsroom@thomsonreuters.com; +48587696600;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2448124519?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-07-01 23:45","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2448124519","market":"us","top_or_hot":-1,"title":"BRIEF-Telecom Italia Completes Sale Of Netco To KKR","media":"Reuters","content":"<html><body><p>July 1 (Reuters) - KKR &amp; Co Inc   :</p><p>   * SALE OF NETCO TO KKR COMPLETE</p><p>   * SALE OF NETCO, VALUED AT UP TO €22.0 BILLION, INCLUDING EARN-OUTS LINKED TO FULFILMENT OF CERTAIN CONDITIONS, ALLOWS <a href=\"https://laohu8.com/S/TIMB\">TIM</a> TO REDUCE ITS NET FINANCIAL DEBT IN LINE WITH ITS PREVIOUS DISCLOSURE TO MARKET</p><p>   * EXPECTED DELEVERAGE UPON COMPLETION, PENDING CUSTOMARY POST-CLOSING ADJUSTMENTS, IS CONFIRMED AT €14.2 BILLION</p><p>   * <a href=\"https://laohu8.com/S/FUTR.UK\">FUTURE</a> BUSINESS RELATIONSHIPS BETWEEN NETCO AND TIM ARE REGULATED THROUGH A 15-YEAR TERM MASTER SERVICE AGREEMENT <a href=\"https://laohu8.com/S/MSA\">$(MSA)$</a>, RENEWABLE FOR FURTHER 15 YEARS</p><p>   * FOLLOWING TRANSACTION, TIM'S TOTAL HEADCOUNT WILL DECREASE FROM 37,065 TO 17,281, EQUAL TO 16,135 FULL-TIME EQUIVALENTS</p><p>   * MORE DETAILS ON COMPLETION OF TRANSACTION WILL BE PROVIDED DURING PRELIMINARY Q2 2024 RESULTS CONFERENCE CALL ON 1ST AUGUST, 2024</p><p> Further company coverage:   </p><p> (Gdansk Newsroom)</p><p>((gdansk.newsroom@thomsonreuters.com; +48587696600;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BRIEF-Telecom Italia Completes Sale Of Netco To KKR</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBRIEF-Telecom Italia Completes Sale Of Netco To KKR\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-01 23:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>July 1 (Reuters) - KKR & Co Inc   :   * SALE OF NETCO TO KKR COMPLETE   * SALE OF NETCO, VALUED AT UP TO €22.0 BILLION, INCLUDING EARN-OUTS LINKED TO FULFILMENT OF CERTAIN CONDITIONS, ALLOWS TIM TO ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KKR","symbol_name":"KKR & Co L.P.","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2448124519","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2448124519","pubTimestamp":1719848744,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"July 1  - KKR & Co Inc   :   * SALE OF NETCO TO KKR COMPLETE   * SALE OF NETCO, VALUED AT UP TO 22.0 BILLION, INCLUDING EARN-OUTS LINKED TO FULFILMENT OF CERTAIN CONDITIONS, ALLOWS TIM TO REDUCE ITS NET FINANCIAL DEBT IN LINE WITH ITS PREVIOUS DISCLOSURE TO MARKET   * EXPECTED DELEVERAGE UPON COMPLETION, PENDING CUSTOMARY POST-CLOSING ADJUSTMENTS, IS CONFIRMED AT 14.2 BILLION   * FUTURE BUSINESS RELATIONSHIPS BETWEEN NETCO AND TIM ARE REGULATED THROUGH A 15-YEAR TERM MASTER SERVICE AGREEMENT , RENEWABLE FOR FURTHER 15 YEARS   * FOLLOWING TRANSACTION, TIM'S TOTAL HEADCOUNT WILL DECREASE FROM 37,065 TO 17,281, EQUAL TO 16,135 FULL-TIME EQUIVALENTS   * MORE DETAILS ON COMPLETION OF TRANSACTION WILL BE PROVIDED DURING PRELIMINARY Q2 2024 RESULTS CONFERENCE CALL ON 1ST AUGUST, 2024 Further company coverage:    ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"KKR":"KKR & Co L.P.","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","BK4585":"ETF&股票定投概念","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","MSA":"Mine Safety Appliances Co","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4588":"碎股","LU1815336091.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AUP\" (USD) INC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU0106831901.USD":"贝莱德世界金融基金A2","BK4143":"办公服务与用品","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","BK4135":"资产管理与托管银行","LU0757428866.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AE\" (USD) ACC","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","LU1923622291.USD":"Natixis Thematics Safety R/A USD","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (SGDHDG) INC","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)"},"translate_title":"简介-意大利电信完成将Netco出售给KKR","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MSA":1,"KKR":1},"content_text":"July 1 (Reuters) - KKR & Co Inc   :   * SALE OF NETCO TO KKR COMPLETE   * SALE OF NETCO, VALUED AT UP TO €22.0 BILLION, INCLUDING EARN-OUTS LINKED TO FULFILMENT OF CERTAIN CONDITIONS, ALLOWS TIM TO REDUCE ITS NET FINANCIAL DEBT IN LINE WITH ITS PREVIOUS DISCLOSURE TO MARKET   * EXPECTED DELEVERAGE UPON COMPLETION, PENDING CUSTOMARY POST-CLOSING ADJUSTMENTS, IS CONFIRMED AT €14.2 BILLION   * FUTURE BUSINESS RELATIONSHIPS BETWEEN NETCO AND TIM ARE REGULATED THROUGH A 15-YEAR TERM MASTER SERVICE AGREEMENT $(MSA)$, RENEWABLE FOR FURTHER 15 YEARS   * FOLLOWING TRANSACTION, TIM'S TOTAL HEADCOUNT WILL DECREASE FROM 37,065 TO 17,281, EQUAL TO 16,135 FULL-TIME EQUIVALENTS   * MORE DETAILS ON COMPLETION OF TRANSACTION WILL BE PROVIDED DURING PRELIMINARY Q2 2024 RESULTS CONFERENCE CALL ON 1ST AUGUST, 2024 Further company coverage:    (Gdansk Newsroom)((gdansk.newsroom@thomsonreuters.com; +48587696600;))","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2448124519"}