Italy’s TIM enters into exclusive talks with KKR over grid sale

MILAN: Telecom Italia (TIM) has granted U.S. fund KKR a period of exclusive negotiations for the sale of its landline grid, the Italian phone group said on Thursday.

TIM’s board unanimously mandated CEO Pietro Labriola to start talks with KKR aimed at obtaining a binding offer no later than Sept. 30, the group said in a statement.