Telecom Italia (TIM) shares dropped as much as 3% in early trade on Monday as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to materialise over the weekend.
The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photoshares dropped as much as 3% in early trade on Monday as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to materialise over the weekend.
Italian state lender CDP has yet to receive key government backing to submit an offer together with Australian fund Macquarie, sources familiar with the matter said, dampening speculation fuelled by media reports last week.
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