It is now a matter of days. Except for sensational twists, on 31 August Tim’s Board of Directors will meet to turn on a green light for the 1.8 billion euro offer of the American fund Kkr to purchase 35% of Fibercop, the new company into which the network will converge secondary of Tim (which will control 58%, while the remaining 4.5% will be in the hands of Fastweb). ONE STEP AGREEMENT
The agreement that paves the way for the single network comes in the aftermath of a vis a vis between the CEOs of Tim and Cassa Depositi e Prestiti Luigi Gubitosi and Fabrizio Palermo . An exit from the impasse that was greeted with thunderous applause from the markets, with a jump of 4% of Tim’s stock in Piazza Affari.
The name of the American fund entered the game for the single network and jumped to the headlines when the government, with a letter to Tim’s board of directors, asked to suspend the offer at the beginning of August. But what is it, where does it come from and who is in the maxi-fund who wants to buy a piece of the Italian network. POCKET ACCOUNTS
Funds like Kkr, in the world, can be counted on the fingers of one hand. Just look at the numbers, mind-boggling. The Agi summarizes them: more than 200 billion dollars administered, almost 1500 between employees and consultants, flanked by an army of 470 analysts who operate in 20 cities of 16 different countries.
The private equity firm was founded in New York, where it has been listed on the stock exchange since 2010, back in 1976 by Jerome Kohlberg Jr. and cousins ​​Henry Kravisand George R. Roberts . Since its inception, Kkr (acronym for Kohlberg Kravis Roberts & Co.) has completed transactions in the private equity sector for a value of more than 400 billion dollars, with investments in over 160 companies in the most disparate sectors (energy and infrastructure above all, but also credit and real estate). THE TEAM (THERE IS PURE PETREUS)
At the top of the board of the fund are co-founders Kravis and Roberts, followed by Joseph Y. Bae and Scott Nuttal , managers with a past at Goldman Sachs and Blackstone, now co-chairmen and heads of operations, and finally CFO Robert Lewin. Among the top positions of the company, a name of international standing stands out. President of the Kkr Global Institute, the institute that provides risk and geopolitical analyzes to the fund’s investors, and in fact David Petreus , legendary four-star general of the Marines, former head of the troops in Iraq, Afghanistan and Pakistan, then director of the CIA. A name of absolute (political) weight. In 2013, when Petreus accepted the job, Forbes called him “a huge assignment.” TRUMP’S FRIENDS
If Petreus’s name wasn’t enough to highlight Kkr’s weight in the American political world and intelligence community, just remember the (excellent) relations that the company boasts with the President of the United States, Donald Trump .. In a 2010 Bloomberg video, Tycoon said that Kravis has “an incredible instinct”. The feeling has continued over the years. So much so that in 2016, one step away from winning the Republican nomination, Trump knocked on the door of his billionaire friend asking him to act as Secretary of the Treasury, to receive a polite refusal. So courteous, that Kravis decided to make a modest donation for Trump’s inauguration in January 2017: one million dollars. QUI ITALIA
The long list of advisors to the New York fund also speaks a little Italian. There is Diego Piacentini , the former Commissioner for Digital Transformation with Matteo Renziwith a long managerial career in America between Apple and Amazon. Today he advises Kkr on Technology, media and telecommunications (Tmt). With him Gianemilio Osculati , president of Valore Spa, a strong CV with a background at the Boston Consulting Group and IBM, then as top manager of McKinsey.
