TIM clears first hurdle in securing state guarantees for $3.1 billion loan - sources

FILE PHOTO: The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi

ROME (Reuters) - Italian credit export agency SACE has approved state guarantees for a bank credit line worth up to 3 billion euros ($3.1 billion) for Telecom Italia (TLIT), two sources close to the matter told Reuters on Monday.

SACE's board cleared the state guarantees on May 10, without making its decision public, the sources said.