With 11 votes in favor, Tim's Board of Directors' green light came for the sale of the network to KKR. The result exceeds the most optimistic expectations. Yesterday the board approved the sale without this decision going through an extraordinary or advisory meeting vote. With yesterday's board meeting, a long weekend came to an end. In fact, Friday's meeting had focused on the studies brought by the advisors regarding the congruity of the offer with respect to the value of the assets and the sustainability of the set-up that will entail the sale of the network and, that is, the future of ServiceCo. On Saturday, however, the board adjourned to address other crucial legal profile issues, namely deciding which corporate body is competent to deliberate. TIM's advisors were present at Saturday's board meeting. Answering questions from board members were financial advisors Goldman Sachs, Mediobanca, Lion Tree, Equita, and Vitale with their fairness opinions on KKR's offer.
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