KKR's Bid for Telecom Italia Deadlocked Over Due Diligence
KONTAN.CO.ID - MILAN. The chances of the U.S. fund KKR pushing ahead with a firm bid for Telecom Italia (TIM) faded. Two sides deadlocked on Tuesday over access to the company's books.
KKR has told TIM, it cannot confirm its 10,8 billion euro (US$ 11,9 billion) bid unless Italy's biggest telecoms group provides access to its data under a due diligence process. According to two sources with knowledge of a KKR letter to TIM's board.
