MILAN, April 18 (Reuters) - Italy's state lender Cassa Depositi e Prestiti (CDP) said on Tuesday it would submit an improved non-binding offer for Telecom Italia (TIM)'s grid, together with Macquarie Asset management.
The new offer will be valid until May 31, CDP said in a statement, without giving a figure.
Sources have previously said CDP, which owns 10% of TIM, had initially offered some 18 billion euros ($19.74 billion), including debt, for the asset, which it plans to combine with that of Open Fiber, a rival fibre optic firm owned by CDP and Macquarie.
U.S. fund KKR KKR.N is also expected to present an alternative improved bid for TIM's grid.
($1 = 0.9119 euros)
News: MQG Italy's state lender CDP to raise offer for Telecom Italia's grid
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