Court to hear Vivendi’s challenge to TIM network sale on May 21

MILAN: A first hearing on the case filed by Telecom Italia’s (TIM) top investor Vivendi against the sale of the former phone monopoly’s fixed network to U.S. fund KKR has been scheduled for May 21, two legal sources told Reuters.

Worth up to 22 billion euros ($23.79 billion) and blessed by the Italian government, the sale is a key plank of the strategy planned by TIM’s head Pietro Labriola to revamp the telecoms firm.