Abu Dhabi Investment Authority (ADIA) is in discussions to join KKR & Co.'s €23 billion bid for Telecom Italia SpA's landline network. ADIA may provide equity support for the bid and could invest directly in the network or take a stake in the KKR fund housing the company.
- The deliberations are ongoing, and no final decisions on ADIA's participation have been made yet. Representatives for ADIA, KKR, and Telecom Italia have declined to comment to news outlets.
Why it matters
ADIA's discussions about supporting the network deal align with the increased spending of Middle East's sovereign wealth funds, which manage over $3 trillion in assets. ADIA has demonstrated a keen interest in infrastructure investments, pursuing opportunities in various sectors such as railcars and ports in recent times.