Italy Govt Makes 700-mn-euro Offer For Telecom Italia Unit [Barron's]
VIVENDI SE UNSP/ADR (VIVHY)
NASDAQ:AMEX Investor Relations:
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Source: Barrons
what the government considers a strategic target at 700 million euros ($729 million). Sparkle operates more than 600,000 kilometres (380,000 miles) of cables connecting countries, which include the United States and Israel, to allow flow of data worldwide -- including sensitive cables. Its network is concentrated in Europe, the Mediterranean and the Americas. The government made the bid, which is valid until January 27, along with Retelit SpA, a firm controlled by Spain's Asterion Industrial Partners. In November last year, the TIM board judged inadequate a non-binding offer from US investment fund KKR of 600 million euros, according to a financial source. TIM, whose main shareholder is French media behemoth Vivendi, in a statement confirmed receipt of the latest offer and said it would begin the "examination and decision-making process as soon as possible". ljm/cm/cw/kjm The Barron's news department was not involved in the creation of the content above. This article was
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