Buy-out group KKR’s weekend approach to the board of Telecom Italia is worth $12 billion, a 45% premium on Friday’s level.
The prospect of more big private equity deals ensured European markets started the week on the front foot, despite jitters over Covid restrictions.
The FTSE 100 index climbed 22.83 points to 7246.46, driven by telecoms shares after KKR’s move for Italy’s biggest phone company.
BT Group, which has been seen as a potential target for French billionaire Patrick Drahi, rose 3% or 4.8p to 165.45p and Vodafone added 2.12p to 115.74p.
This story is from the November 22, 2021 edition of Evening Standard.
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This story is from the November 22, 2021 edition of Evening Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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