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MILAN (Reuters) – KKR is pressing ahead with preparatory activities for the buyout of Telecom Italia (BIT:)’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 (OTC:), which has questioned the sustainability of the remaining business and is fighting the sale in court.
($1 = 0.9186 euros)
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This story originally appeared on Investing
