Italy's Treasury ready to back KKR-CDP joint bid for Telecom Italia's grid, sources say
ROME, May 5 (Reuters) - Italy's Treasury is ready to back a joint purchase proposal for Telecom Italia's (TIM) grid by U.S. KKR and state lender CDP to end a stalemate over the sale process of the phone group's prized asset, sources told Reuters.
TIM directors on Thursday set a final deadline of June 9 for potential improved offers by KKR and a rival consortium comprising CDP and Australian fund Macquarie, worth 21 billion euros ($23.13 billion) and 19.3 billion euros respectively.
In recent talks with involved parties, the Treasury said it would welcome a joint bid for TIM's grid, two sources familiar with the matter told Reuters on Friday.
One of sources added the ministry would also be open to involving Infrastructure fund F2i in the process, should talks over a joint bid prove feasible.
TIM, CDP, Macquarie and KKR declined to comment, while F2i was not immediately available for comment.
(Reporting by Giuseppe Fonte in Rome and Elvira Pollina in Milan, editing Federico Maccioni)
