KKR & Co. reiterated its interest in Telecom Italia SpA in a letter that will be delivered as soon as Wednesday to the troubled former phone monopoly, according to people familiar with the matter.
The U.S. private equity giant asked Telecom Italia again for the opportunity to conduct due diligence at the company, said the people, who asked not to be identified since the letter isn’t public. KKR made a 10.8 billion-euro bid for the company in November.
Telecom Italia hired Kirkland & Ellis as international M&A counsel to negotiate with KKR, the people said.
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