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Telecom Italia to finalise network sale to KKR on July 1

Reuters
FILE PHOTO: Illustration shows Telecom Italia (TIM) logo

MILAN (Reuters) - Telecom Italia (TIM) will finalise the landmark sale of its domestic fixed line access network to KKR on July 1, the Italian company said on Monday.

The deal is worth up to 22 billion euros ($23.6 billion) and is aimed at slashing TIM's debt pile and revamping the ailing former phone monopoly.

TIM also said its board would meet on July 31 to review preliminary financial results for the period to the end of June.

($1 = 0.9322 euros)

(Reporting by Elvira Pollina; Editing by Keith Weir)