TIM Board Decides To Mandate Chairman And CEO For Talks With KKR

TIM said its Board unanimously deliberated to mandate the Chairman and the CEO to begin formal talks with Kohlberg Kravis Roberts & Co. L.P. or KKR, beyond those already held by the advisors, in order to maximize shareholder value also in relation to other potentially interested parties. The company will hold these activities with the support of its advisors.

On November 26, 2021, the Board established an ad-hoc Committee, which appointed the financial and legal advisors on December 6, 2021. The Board now reviewed the results of the analysis of the indicative, non-binding expression made by its financial advisors. Based on the financial advisors' preliminary valuations of the company's valorization based on the 2022-2024 plan and the projections to 2030, the Board reiterated its deliberation to pursue the plan and to continue to explore and execute the discontinuity plan.

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