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Telecom Italia to finalise network sale to KKR on July 1
Global Banking & Finance Review®
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MILAN (Reuters) – Telecom Italia (TIM) will finalise the landmark sale of its domestic fixed line access network to KKR on July 1, the Italian company said on Monday.
MILAN (Reuters) – Telecom Italia (TIM) will finalise the landmark sale of its domestic fixed line access network to KKR on July 1, the Italian company said on Monday.
The deal is worth up to 22 billion euros ($23.6 billion) and is aimed at slashing TIM’s debt pile and revamping the ailing former phone monopoly.
TIM also said its board would meet on July 31 to review preliminary financial results for the period to the end of June.
($1 = 0.9322 euros)
(Reporting by Elvira Pollina; Editing by Keith Weir)
Telecom Italia, also known as TIM, is a major telecommunications company in Italy, providing fixed-line and mobile services.
KKR is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit.
A fixed line access network refers to the physical infrastructure that connects homes and businesses to telecommunication services via wired connections.
Debt sustainability refers to a country's ability to manage its debt without requiring debt relief or accumulating further debt, ensuring long-term economic stability.
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