KKR open to leave Italy in control of TIM's submarine cable unit, sources say
KKR is open to leaving Italy in full control of Telecom Italia's (TIM) submarine cable unit as part of the U.S. fund's efforts to secure government blessing to take over the phone group's grid, two sources close to the matter said. The future of Sparkle, TIM's submarine unit, is one of the topics that government officials are discussing with KKR representatives in talks over the New York-based fund's approach for Netco, a venture comprising both TIM's fixed domestic access grid and Sparkle.