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Funds CVC and Advent say open to discussing solution to strengthen TIM

Reuters
·1-min read
Telecom Italia's logo for the TIM brand is seen on building roof downtown Milan

MILAN (Reuters) - Private equity funds CVC and Advent said on Sunday they were open to discussing with all stakeholders in Telecom Italia (TIM) ways to strengthen the phone group, as its board meets to discuss a takeover proposal.

A meeting of TIM's board is ongoing to discuss the takeover proposal by U.S. fund KKR.

CVC and Advent "are open to dialogue with all shareholders to identify a transparent solution" to strengthen TIM, a spokesperson for the two funds said, adding that they had had no contact with French media group and top TIM investor Vivendi.

(Reporting by Valentina Za, writing by Gavin Jones)