Italian operator Telecom Italia (TIM) called an extraordinary board meeting Sunday after receiving an expression of interest from US investment fund KKR for the entire firm, a source close to the matter said.
KKR already has a stake in FiberCop, a joint venture with TIM and Italian internet provider Fastweb to provide fibre optic broadband across Italy.
It comes amid growing pressure on TIM's top management from shareholders -- the largest of which is France's Vivendi -- following disappointing recent results, according to the Corriere della Sera newspaper, which first broke the KKR story.
The newspaper added that the Italian government has powers to intervene in any potential takeover deal because TIM's network is considered a strategic national asset.
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