Telecom Italia (TIM) shares dropped more than 3% in early trade on Monday as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to come through over the weekend.
Economy Minister Giancarlo Giorgetti is weighing "multiple options" to bring TIM's grid under strategic government control, and the acquisition of a controlling stake through state-run firms is not the only one, the officials said.submitted a non-binding bid
KKR's approach value the infrastructure at some 20 billion euro, including debt and a 2 billion euros earnout, two sources familiar with the matter said.
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