MILAN: Telecom Italia CEO Luigi Gubitosi has told its board that he is ready to step aside if that would help speed up a decision on a takeover approach by US private equity group KKR, sources told Reuters on Thursday.
Gubitosi said in a letter sent to the board on Thursday that it was time to take action, appoint advisers and make a decision on KKR's offer, the sources told Reuters, confirming an earlier report by Italian news agency Ansa. "Technically we could be ready for a data room in 48-72 hours," he said in the letter, referring to the practice of giving a suitor and its advisers access to a company's books to conduct due diligence during a potential bid.
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