CVC denies new proposal for TIM’s enterprise arm

MILAN (Reuters) – CVC Capital Partners denied on Wednesday a report it had submitted a new proposal to Telecom Italia (TIM) offering around 7 billion euros for the company’s enterprise service arm.

“The only proposal made to TIM’s board was dated March 25, 2022, as announced by TIM on March 28,” CVC said in a statement.

According to a report in Italian daily La Repubblica on Wednesday, CVC raised its offer to buy into TIM Enterprise to about 7 billion euros from the previous 6 billion euros.

(Reporting by Elvira Pollina, writing by Gianluca Semeraro; editing by Keith Weir)