Telecom Italia (TIM) has confirmed that it has received a binding offer from investment firm KKR for its fixed networks business NetCo, including the FiberCop last-mile operations.
The offer is valid until 8 November, although there is the possibility of an extension to 20 December. KKR has also submitted a non-binding offer for TIM’s international wholesale business Sparkle, with a binding bid expected within four-to-eight weeks. Further details of the offers have not been released, but TIM says they will be studied by its board once the preliminary analysis is complete.