The board of Italian state investor CDP is due to meet later on Sunday to approve a multi-billion euro non-binding offer for the fixed network of former phone monopoly Telecom Italia , three people with knowledge of the matter said.
KKR's proposal, which rises to 20 billion euros when including a 2 billion euros earn-out, has given fresh impetus to efforts to revamp TIM after the failure of prolonged talks involving the government and TIM's top two shareholders - CDP and France's VivendiBoth figures are below the 31 billion euro price tag Vivendi has set to back selling the grid, for which TIM itself has indicated a valuation of 25 billion euros.
The government of Prime Minister Giorgia Meloni has repeatedly said it wants to win control of TIM's network while protecting jobs, but there is no common ground within the administration on how to proceed.
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