- Telecom Italia (TIM) shares rose 5% after CDP and Macquarie submitted a joint bid for TIM's grid, rivaling KKR's approach.
- The offers value the grid at 18 billion euros ($19.2 billion).
- TIM seeks to cut its 25 billion euros debt pile and fund an overhaul.
- Vivendi, TIM's largest shareholder, seeks a price tag of 31 billion euros.
Telecom Italia boosted by rival offer for landline grid
Telecom Italia (TIM) shares rose as much as 5% on Monday after Italian state investor CDP and Australian fund Macquarie submitted a joint bid for the former phone monopoly's grid, rivalling an approach by U.S. firm KKR .
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