Telecom Italia reviews KKR's bid as rival plan emerges

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Telecom Italia reviews KKR's bid as rival plan emerges
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Telecom Italia (TIM) directors will on Friday begin assessing a multi-billion euro bid for its fixed-line grid from U.S fund KKR, part of a government-backed...

MILAN - Telecom Italia directors will on Friday begin assessing a multi-billion euro bid for its fixed-line grid from U.S fund KKR, part of a government-backed plan opposed by top shareholder Vivendi and challenged by other minority investors.

After an initial review on Friday, TIM directors will gather again on Sunday to decide whether to back the KKR deal after months of negotiations with the U.S. fund. Italian infrastructure fund F2i is also preparing to take a stake to bring the holding in Italian hands to 30-35%. The grid sale has also been challenged by an alternative strategy from London-based investment firm Merlyn Advisors and former TIM executive Stefano Siragusa.

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