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Telecom Italia CEO rules out antitrust issues in network sale

MILAN (Reuters) -Telecom Italia (TIM) does not expect any specific antitrust issues hindering the planned sale of its fixed line network assets to U.S. fund KKR , 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.

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