TIM Board To Examine Binding Offer On NetCo, Non-binding Offer On Sparkle From KKR

(RTTNews) - TIM announced that its Board of Directors will meet on 3 November to examine the binding offer on NetCo and the non-binding offer on Sparkle received from Kohlberg Kravis Roberts & Co. L.P. on 16 October. At the meeting, the Board will examine which corporate body is competent to decide on the matter.

The binding offer on NetCo relates to TIM's fixed network business, including FiberCop. The offer on NetCo expires on 8 November, subject to the possibility of discussing the terms of further extensions until next 20 December.

TIM noted that an informal meeting of the Board will be held on 4 November to continue the discussion with management and advisors. The Board will meet again formally on 5 November.