Italy’s TIM asks state lender CDP to invest in last-mile network: sources

ROME (Reuters) – Telecom Italia has asked Italian state lender CDP to invest in its last-mile network in order to allay Rome’s concerns over the planned sale of part of the grid to U.S. firm KKR , two sources close to the matter told Reuters.

The move comes as the Treasury prepares to play a more active role to favour a deal between TIM and smaller rival Open Fiber to create a broadband national champion, the sources said.

Open Fiber is jointly owned by Enel and CDP.

Two other sources said talks between Enel and investment fund Macquarie over the possible sale of all or part of the utility’s stake in Open Fiber had been extended.

(Reporting by Giuseppe Fonte, Elvira Pollina and Stephen Jewkes)