- Italian state lender CDP said on Sunday its board had approved a non-binding offer for the fixed-line network of former phone monopoly Telecom Italia.
- CDP has teamed up with Australian infrastructure fund Macquarie to bid for the whole of Italy's most important telecommunications infrastructure.
- U.S. investment firm KKR has already presented an offer to buy a controlling stake in the same venture.
- TIM said its board would discuss the CDP-Macquarie offer on 'March 15 or on another date to be defined'.
- CDP's move is welcome because it makes the sale process more transparent but still leaves several scenarios open, a senior government source said.
Italy's CDP bids for TIM's grid to rival KKR approach
Italian state lender CDP said on Sunday its board had approved a non-binding offer for the fixed-line network of former phone monopoly Telecom Italia (TIM) , adding it would be valid until March 31.
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