MILAN (Reuters) -Telecom Italia's (TIM) biggest investor, Vivendi, asked an Italian judge for further documentation to be provided in a case challenging the planned sale of the phone group's landline grid to U.S. fund KKR, a lawyer for the French company said on Tuesday. Worth up to 22 billion euros ($23.9 billion) and backed by the Italian government, the proposed sale is a key plank of TIM Chief Executive Pietro Labriola's strategy to revamp the debt-laden telecoms company. Vivendi, which was seeking a higher price, filed a complaint with a Milan court in December to annul the decision by TIM's board to sell the network without a shareholder vote.
U.S. investment firm KKR will likely offer remedies next week in an attempt to secure EU antitrust approval to buy Telecom Italia's (TIM) fixed-line access network, a person familiar with the matter said on Wednesday. KKR wants to acquire TIM's domestic network for up to 22 billion euros ($23.87 billion), making the Italian telecoms group the first in a major European country to divest its landline grid. The European Commission is now examining the deal, with a decision due by May 30.
U.S. investment firm KKR will likely offer remedies next week in an attempt to secure EU antitrust approval to buy Telecom Italia's (TIM) fixed-line access network, a person familiar with the matter said on Wednesday. KKR wants to acquire TIM's domestic network for up to 22 billion euros ($23.87 billion), making the Italian telecoms group the first in a major European country to divest its landline grid. The European Commission is now examining the deal, with a decision due by May 30.