Explainer: What next for Telecom Italia after network sale to KKR?

Telecom Italia (TIM) (TLIT.MI),  will finalise on July 1 the landmark sale of its fixed-line domestic access network to U.S. fund KKR (KKR.N),a deal that makes it the first phone incumbent in a major European country to part ways with its landline grid. WHAT IS TIM SELLING? TIM’s fibre and copper landline network covers nearly 89% of the country’s households […]

Citi bets on Europe despite political uncertainty, regional CEO says

Citigroup (C.N), is looking to boost its business in Europe despite political instability on the continent spooking investors, the bank’s new head of the region Ignacio Gutierrez-Orrantia said in an interview with Reuters. The U.S. bank, which last year undertook its most significant restructuring in decades, is currently placed fourth in EMEA league tables for M&A and sixth […]

EU banks see jump in problem loans to small companies, EU banking watchdog says

Banks across the European Union experienced a jump in souring loans to small and medium sized companies in the first quarter of the year, though their profitability held up, the bloc’s banking watchdog said on Thursday. The European Banking Authority (EBA) said in its quarterly “risk dashboard” that credit risks have started to materialise with […]