By Ed Frankl
Shares in Telecom Italia SpA rose Thursday on studies that private-equity agency KKR & Co. has reconfirmed its curiosity in a takeover of the corporate.
KKR mentioned in a letter this week that it stays within the former Italian telecoms monopoly, Reuters and Bloomberg reported, citing unnamed sources. The New York-based firm had constructive exchanges with nationwide authorities on the matter, in keeping with Reuters.
At 1448 GMT, shares had been up 10% to 33 European cents.
In November, KKR made an strategy for the corporate, valuing TIM at 10.8 billion euros ($11.89 billion), with a view to taking it non-public.
Earlier this month, TIM mentioned it will enter into formal negotiations with the private-equity firm, main shares greater.
KKR additionally expressed curiosity in integrating TIM’s fixed-line telecoms belongings with these of rival Open Fiber, in keeping with Reuters.
Each KKR and Telecom Italia declined to remark when approached by Dow Jones Newswires.
Write to Ed Frankl at edward.frankl@dowjones.com