• Loading stock data...
Saturday, February 24, 2024
Rates for the 2024 Best Venue Awards increase this Sunday at 11:59 p.m. ET

KKR Bids for Telecom Italia

  • Private equity firm KKR has made a bid for Telecom Italia.
  • The telecom giant works with DAZN on Serie A broadcasts.
Serie A TIM/Design: Alex Brooks

New York-based private equity firm KKR is taking aim at Italy’s biggest telecommunications company with a takeover bid for Telecom Italia.

Earlier this month, Telecom Italia announced it may seek to renegotiate its $1.1 billion deal with DAZN to distribute Serie A broadcasts after Telecom posted disappointing earnings results.

Formerly a state-controlled monopoly, Telecom Italia has seen its value steadily drop over the last five years. However, after a roughly 38% increase since Nov. 19 in the wake of the takeover bid, Telecom Italia reached an $11 billion market capitalization.

  • Telecom Italia and DAZN teamed up to secure rights to Serie A in a three-year deal earlier this year. 
  • The pact gained approval in July after Italian regulators received assurances that league matches would still be available to customers who don’t subscribe to Telecom Italia’s internet service.
  • Telecom Italia’s CEO Luigi Gubitosi resigned on Friday following a disagreement with top investor Vivendi.

The deal will have to be approved by Italian regulators to move forward, which may take steps to preserve the company’s Italian identity. One option could be to have public-private bank Cassa Depositi e Prestiti SpA increase its 10% stake in Telecom Italia.

In September, KKR announced that it was selling off its entire $852.9 million stake in retailer Academy Sports.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

Live Sports Are Now High-Tech Experiences

Oracle is leading the technology revolution happening in stadiums across the world.
Sponsored

NASCAR Capitalizes on the Sportswear Boom in a New Deal With ’47

With the new partnership between ’47 and NASCAR, racing fans can express their love like never before.
Sponsored

How Cisco and the NFL Are Shaping a More Inclusive Future

The NFL and Cisco partner to launch the NFL IT Apprenticeship Program.
Sponsored

SailGP’s Record-Breaking U.S. Team Sale and the Surge of High-Adrenaline Sailing

SailGP expands to the world’s largest media market.
podcast thumbnail mobile
Front Office Sports Today

How the Negro Leagues Are Staying in the Game

0:00
0:00

Featured Today

Sep 24, 2023; Oakland, California, USA; A general view of the Oakland Athletics dugout after the game against the Detroit Tigers at Oakland-Alameda County Coliseum.

Murky Future: Everything You Need to Know About the A’s Move to Las Vegas

Breaking down one of the most drawn-out, multifaceted sagas in sports.
February 18, 2024

Sabrina-Steph Wasn’t the ‘Battle of the Sexes’—But It Was Part of the Bigger War

The competition could play a factor in increasing the WNBA’s media value.
NASCAR Cup Series driver Bubba Wallace (23), in a Star Wars rebel alliance X-wing fighter pilot-inspired race suit, motions to the crowd to get louder during the driver introductions for the Cup Series Championship race at Phoenix Raceway in Avondale on Nov. 5, 2023.
February 17, 2024

Celebrity Owners, International Ambitions, and $7B Media Deals: Welcome to the New NASCAR

NASCAR boldly keeps pace with the increasingly competitive sports and entertainment world.
February 16, 2024

Wilson Introduced an Airless Basketball for $2,500. We Had Questions

The black, 3D-printed ball appeared in last year’s Slam Dunk Contest.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Finance Manager
FanDuel
New York, NY
Senior Technical Artist - Sports Technology
EA Sports
Orlando, FL
Assistant Manager, Affiliate Operations
Adidas
Portland, OR

Tom Brady’s Post-Retirement Embrace of Las Vegas

With business all over town, one partner says, ’He’s going to be a great addition to the city.’
January 31, 2024

PGA Tour Taps Into Deep Base of Team Owner Experience With SSG Deal

New investor group boasts more than 200 years of combined team leadership.
Jordan Spieth
February 1, 2024

Will PGA Tour-PIF Deal Get Done? Some Players Say: Don’t Bother

Spieth, Simpson among those to question need for Saudi pact after SSG investment.
Sponsored

Live Sports Are Now High-Tech Experiences

Oracle is leading the technology revolution happening in stadiums across the world.
Baltimore-Orioles-Camden-Yards
January 31, 2024

Capital Changes: Orioles’ Sale Marks Latest Deal in a Rapidly Transforming Region

Deal for MLB team follows Leonsis arena project, Harris purchase of the Commanders.
Golf bag leaning on PGA Tour signage
January 31, 2024

PGA Tour Scores Investment Worth Up To $3 Billion and Gives Players Equity

Players collectively get $1.5 billion in equity shares based on performance.
Orioles lawsuit
January 30, 2024

Baltimore Orioles Reportedly Being Sold to Two Billionaires

Owner John Angelos is set to sell the team for $1.725 billion.
January 30, 2024

Tom Brady’s Next Big Move: Merging TB12, Brady Brand with NOBULL

Tom Brady is merging TB12 and Brady Brand with NOBULL.