KKR

Telecom Italia CEO rules out antitrust issues in network sale

Credit: REUTERS/GUGLIELMO MANGIAPANE

Adds details, further CEO quote

MILAN, Feb 15 (Reuters) - Telecom Italia (TIM) TLIT.MI does not expect any specific antitrust issues hindering the planned sale of its fixed line network assets to U.S. fund KKR KKR.N, the Chief Executive of Italy's biggest phone group said on Thursday.

"We don't foresee specific issues... at the antitrust level," Pietro Labriola said in a post-results call, arguing that the deal would not create any "concentration" in the market.

The planned sale, worth up to 22 billion euros ($23.61 billion), is a plank of Labriola's revamp of the group and is aimed at slashing TIM's debt pile and offloading more than a half of the domestic workforce on to the network company.

In the same call, Labriola said the group was fully committed to a "timely and successful" closing of the sale.

TIM expects to finalise the sale mid-year, with investor focus now turning to the strategy for the group's remaining domestic services arm.

($1 = 0.9316 euros)

(Reporting by Elvira Pollina, writing by Giulia Segreti, editing by Alvise Armellini)

((elvira.pollina@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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