MILAN :Telecom Italia said on Sunday its board had examined a non-binding proposal by U.S. fund KKR aimed at taking Italy's biggest phone group private that valued it at 10.8 billion euros .
Gubitosi brought KKR onboard last year in a 1.8 billion euro deal that handed the New York-based fund a 37.5per cent stake in FiberCop, the unit holding TIM's last-mile network connecting street cabinets to people's homes. Unable to stem TIM's revenue haemorrhage, Gubitosi has started looking at ways to squeeze money out of TIM's assets, revisiting in particular a plan to merge TIM's fixed-line grid with that of fibre optic rival Open Fiber.
KKR's plan would see TIM carve out its fixed network to be run as a government-regulated asset along the model used by energy grid company Terna or gas grid firm Snam, two sources close to the matter said earlier on Sunday.
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