Italy’s TIM board to meet on Friday over request to extend network deal deadline

MILAN: Telecom Italia’s (TIM) directors are set to meet on Friday over a request from state lender CDP and its partners to extend a deadline to clinch a deal over the Italian phone group’s network, two sources close to the matter said.

CDP, infrastructure fund Macquarie and Open Fiber have asked for more time to negotiate a deal to buy TIM’s network assets, pushing back an initial deadline for a binding deal set at the end of this month.