KKR tables binding offer for stake in TIM’s last-mile grid: Sources

ROME: U.S. investment firm KKR has tabled a binding offer for a minority stake of Telecom Italia’s (TIM) so-called last-mile grid, two sources familiar with the matter said on Wednesday.

KKR, which has been in exclusive talks with TIM for the planned sale, offered 1.8 billion euros ($2.12 billion) to buy 38% of the former phone monopoly’s secondary copper and fibre network, which runs cable from street cabinets to users’ homes, one of the sources said.