Explainer-What's at stake in Telecom Italia grid deal?


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

MILAN (Reuters) - U.S. fund KKR and the Italian Treasury have teamed up to buy Telecom Italia's (TIM) landline grid, in a deal that could ultimately be worth about 23 billion euros ($24.38 billion).

The original deadline for a binding bid was the end of September but that is set to be pushed back to Oct.15 at KKR's request.

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