PE giant KKR prepares binding bid for Telecom Italia's grid as deadline looms

PE giant KKR prepares binding bid for Telecom Italia's grid as deadline looms

FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo

U.S. fund KKR is preparing to submit a multibillion euro bid for Telecom Italia’s (TIM) landline grid by a deadline on Sunday as part of a government-backed plan to reshape the former phone monopoly, people familiar with the matter said.