KKR Bids for Telecom Italia Grid as Carrier Aims to Cut Debt
- Telecom Italia set to meet Thursday to weigh network bid
- Italy seeking a state-controlled ultra-broadband network
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KKR & Co. has made a non-binding bid for a stake in Telecom Italia SpA’s multi-billion-euro network, the Italian carrier said on Thursday, as Chief Executive Officer Pietro Labriola seeks to turn the business around.
The shares gained as much as 14% in Milan on Thursday following the announcement of the bid.