Telecom Italia shares slide further as doubts over KKR's bid intensify

FILE PHOTO: The TIM logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nard/File Photo

MILAN (Reuters) - Telecom Italia (TIM) shares fell for a straight second day on Wednesday following an internal meeting over plans to revamp the former phone monopoly while a takeover approach by U.S. fund KKR remains unanswered.

General Manager Pietro Labriola on Tuesday outlined to the company's directors a plan exploring alternative options to KKR's 10.8 billion euro ($12 billion) offer, two people familiar with the matter said, adding the board's response had been positive.