Parties bidding for Telecom Italia's grid ask for extension to talks

Macquarie Technology

10/10/2022 15:43

MILAN, Oct 10 (Reuters) - The parties involved in the
discussions over a potential bid for Telecom Italia's (TIM)
 TLIT.MI  network assets have asked for an extension in their
talks given the magnitude of the transaction, Italy's biggest
phone group said on Monday. 
    Italy's state lender CDP is readying a preliminary offer for
TIM's landline grid as it presses ahead with plans to create a
single broadband company with smaller rival Open Fiber.
Macquarie  MAQ.AX , which has a minority stake in Open Fiber, is
also expected to join the bid. 
    TIM added that KKR  KKR.N , which owns a minority stake in
the phone group's last mile network, was planning to remain
aligned with TIM in the discussions. 
    The parties are set to meet this week, TIM said. 
 (Reporting by Elvira Pollina, editing by Agnieszka Flak)
 ((agnieszka.flak@thomsonreuters.com; +39 06 8030 7754;))