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KKR last year paid 1.8 billion euros ($2 billion) for a 37.5% stake in FiberCop, the unit holding TIM’s last-mile network connecting street cabinets to people’s homes.
With debt-laden TIM evaluating options for its fixed-line grid, its most prized asset to counter shrinking revenue and profits, KKR has readied a proposal to take over the group and carve out the network, another person with knowledge of the matter said.
News of the extraordinary board meeting was first reported by Italian daily Corriere della Sera’s website.
($1 = 0.8859 euros)
