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    SRG   IT0003153415

SNAM S.P.A.

(SRG)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 01/27 03:10:17 am
4.911 EUR   -0.32%
01/26Fitch Keeps Snam's Rating Over Amid Solid Financial Profile
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01/26SNAM S P A : confirmed in 2022 Bloomberg Gender-Equality Index
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01/24SNAM : 2022 Financial Calendar
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Italy to discuss KKR's move on TIM after binding bid, minister says

11/24/2021 | 01:35pm EST
FILE PHOTO: The Tim logo is seen at its headquarters

ROME (Reuters) - The Italian government will discuss KKR's takeover approach on Telecom Italia (TIM) when the U.S. fund makes a binding proposal, Industry Minister Giancarlo Giorgetti said on Wednesday.

The debt-laden former Italian phone monopoly has received a 10.8 billion euro ($12 billion) approach from KKR aimed at taking Italy's biggest phone group private.

Rome has special anti-takeover powers to shield companies deemed of strategic importance from foreign bids.

"It is too early to talk about that," Giorgetti said during a parliamentary hearing, adding the government would look carefully at KKR's plans concerning the company infrastructure assets and jobs.

KKR's move is conditional on the government's backing and comes as a boardroom war rages at TIM, whose biggest shareholder, French media group Vivendi with a 24% stake, has said it deems the bid too low.

Speculation that KKR could raise its bid to win Vivendi's approval pushed TIM shares as much as 17% higher on Wednesday to a 21-month peak.

More than 25% of Telecom Italia voting capital has changed hands this week.

Vivendi is pushing for TIM's Chief Executive Luigi Gubitosi to be replaced after two profit warnings since July, sources have said, and the matter could be discussed at a board meeting on Friday.

Italy's main telecom unions called for a greater presence of the state in TIM, blaming Vivendi for creating tensions within the company.

State-owned holding company Cassa Depositi Prestiti is TIM's second biggest shareholder with a 10% stake.

(Reporting by Giulia Segreti, Giuseppe Fonte and Elvira Pollina; Editing by Cristina Carlevaro, Louise Heavens and Jan Harvey)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SNAM S.P.A. -0.52% 4.927 Delayed Quote.-7.04%
TELECOM ITALIA S.P.A. 0.56% 0.4096 Delayed Quote.-5.67%
TERNA S.P.A. 1.11% 6.906 Delayed Quote.-2.92%
VIVENDI SE -1.36% 11.25 Real-time Quote.-4.04%
All news about SNAM S.P.A.
01/26Fitch Keeps Snam's Rating Over Amid Solid Financial Profile
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Analyst Recommendations on SNAM S.P.A.
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Financials
Sales 2021 2 961 M 3 323 M 3 323 M
Net income 2021 1 179 M 1 323 M 1 323 M
Net Debt 2021 13 937 M 15 638 M 15 638 M
P/E ratio 2021 13,8x
Yield 2021 5,30%
Capitalization 16 112 M 18 179 M 18 079 M
EV / Sales 2021 10,1x
EV / Sales 2022 10,3x
Nbr of Employees 3 388
Free-Float -
Chart SNAM S.P.A.
Duration : Period :
Snam S.p.A. Technical Analysis Chart | SRG | IT0003153415 | MarketScreener
Technical analysis trends SNAM S.P.A.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Last Close Price 4,93 €
Average target price 5,20 €
Spread / Average Target 5,51%
EPS Revisions
Managers and Directors
Marco Alverà Chief Executive Officer & Director
Alessandra Pasini Chief Financial Officer
Nicola Bedin Chairman
Claudio Farina Executive VP-Digital Transformation & Technology
Rozemaria Bala Secretary, Head-Governance, Risk & Compliance
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