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Italy’s TIM says that KKR has made a non-binding offer for its network.

The biggest phone company in Italy, Telecom Italia (BIT:TLIT), said that U.S. investment firm KKR made a non-binding offer for a piece of its fixed-line network. Its board will meet on Thursday to talk about the offer.

Telecom Italia (TIM) said that the size of the stake KKR was bidding for hadn’t been decided yet, but that it would give the U.S. company control of a new company made up of TIM’s domestic landline network and a stake in Sparkle, which makes submarine cables.


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