Meloni Muscles In on KKR’s Telecom Italia Deal, Taking Stake
- Economy Ministry signs preliminary agreement with US firm
- Telecom Italia needs to sell assets to slash its debt pile
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The Italian government agreed with US private equity firm KKR & Co. to take a stake of up to 20% in Telecom Italia SpA’s network business as Prime Minister Giorgia Meloni asserts greater state oversight of strategic assets.
The U.S. private equity firm signed a preliminary deal to include the government in its €23 billion ($25.3 billion) bid for the former phone monopoly’s network, the finance ministry said a statement late Thursday. A decree will complete the process.