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(Bloomberg) Telecom Italia SpA has agreed to sell its landline network to KKR & Co. for as much as €22 billion ($24 billion), moving ahead with a strategic shakeup it’s been weighing for over 15 years — and defying its biggest shareholder. Most Read from BloombergAmazon’s Jeff Bezos Announces Move to Miami From SeattleSam Bankman-Fried Convicted of Fraud in Stunning FTX CrashBiggest Cross-Asset Rally This Year Takes Wall Street by StormIceland’s Blue Lagoon on Alert for Magma Flows After Eart ....
Telecom Italia: After an initial review on Friday, TIM directors will gather again on Sunday to decide whether to back the KKR deal after months of negotiations with the U.S. fund. ....
A deal with KKR is the centrepiece of TIM CEO Pietro Labriola s strategy to reshape the group, burdened with 26 billion euros ($27.6 billion) of net debt, and to allow a fresh start for the remaining services business which has been hard hit by price competition in its home market. ....