KKR tables binding offer for stake in TIM's last-mile grid: sources

ROME (Reuters) – U.S. investment firm KKR (KKR.N) has tabled a binding offer for a minority stake of Telecom Italia’s (TIM) (TLIT.MI) so-called last-mile grid, two sources familiar with the matter said on Wednesday.

KKR, which has been in exclusive talks with TIM for the planned sale, offered 1.8 billion euros ($2.12 billion) to buy 38% of the former phone monopoly’s secondary copper and fibre network, which runs cable from street cabinets to users’ homes, one of the sources said. KKR and Telecom Italia declined to comment.

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