US investment firm plans to take over Telecom Italia

RIYADH: KKR & Co, an American international funding firm, plans to purchase all of Telecom

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Italia, Bloomberg reported, citing sources accustomed to the matter.

The transfer goals at revamping the Italian telecommunications firm that’s seen its market worth fall greater than Eight per cent to €7.four billion ($8.four billion) this yr.

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The US firm plans to separate out Telecom Italia’s community enterprise to get a stable income stream from regulated tariffs, the sources stated.

Spokespeople for Telecom Italia and KRR declined to remark.

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