Distressed Creditors Play Nice; Telecoms in Focus
The Credit Edge by Bloomberg Intelligence
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The Importance of Grid Sale in the European Telecoms Context
The Italian incumbent has been for a long period of time now, an elevated debt position. Net debt at the end of 2023 was in the order of 25 to 30 billion euros. This grid sale could net them around two thirds of that figure. The only problem is separating off the network. Obviously leaves you with just the service company,. which would be more susceptible to competition and to volatile earnings.
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