KKR working to finalise Telecom Italia network deal this summer

By Thomson Reuters Mar 14, 2024 | 12:03 PM

(Removes extra word from headline)

MILAN (Reuters) – KKR is pressing ahead with preparatory activities for the buyout of Telecom Italia’s (TIM) fixed line network and working with other parties towards the summer 2024 timeframe for finalising the deal, a spokesperson for the U.S. fund said on Thursday.

Backed by the Italian government and worth up to 22 billion euros ($24 billion), the deal is opposed by TIM’s top investor Vivendi, which has questioned the sustainability of the remaining business and is fighting the sale in court.

($1 = 0.9186 euros)

(This story has been refiled to remove an extra word from the headline)

(Reporting by Elvira Pollina; Editing by Keith Weir)