ROME (dpa-AFX) - Rome-based telecommunications business Telecom Italia S.p.A. (TIAOF) on Tuesday said that its Board would meet February 24 to discuss the offer for TIM's fixed infrastructure submitted by KKR and take the necessary decisions.
The telecom company said the offer has a duration of four weeks from the date it was sent (1 February).
The company also reiterated that it was ready to consider other alternative options.
The clarification has been issued at the request of Consob.
TIM had on February 2 announced receiving a non-binding offer from KKR for the purchase of a stake in a company 'to be set up that matches with the fixed-line network management and infrastructure perimeter, including FiberCop's assets and activities, as well as the stake in Sparkle (known as 'Netco'). The offer refers to a stake to be defined, on the understanding that the purchase would result in the loss of vertical integration in relation to TIM.'
Shares of Telecom Italia had closed Monday's trading at $0.3250, down $0.0102 or 3.04 percent from the previous close.
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