Italy signs preliminary deal with KKR to take up to 20% of TIM’s grid

MILAN: The Italian government could end up with a stake of as much as 20% in Telecom Italia’s landline grid after signing a preliminary agreement with U.S. fund KKR, which is lining up a bid for the asset.

KKR is in exclusive discussions with debt-laden Telecom Italia (TIM) over the acquisition of Netco, a venture comprising both TIM’s fixed domestic access grid and submarine cable unit Sparkle.