MILAN, June 22 (Reuters) - Telecom Italia (TIM) TLIT.MI has granted an exclusivity period to U.S. fund KKR KKR.N over 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.
The decision came after TIM's board reviewed KKR's offer and a rival bid presented by a consortium comprising Italian state lender CDP and Australian fund Macquarie (MQG) .
News: MQG Italy's TIM enters into exclusive talks with KKR over grid sale
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Last
$226.17 |
Change
2.180(0.97%) |
Mkt cap ! $86.20B | |||
| Open | High | Low | Value | Volume |
| $224.14 | $226.74 | $223.87 | $118.7M | 526.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6 | $226.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $226.30 | 100 | 1 |
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| MQG (ASX) Chart |