TIM to seek new round of higher bids for landline grid – sources

MILAN (Reuters) – Telecom Italia (BIT:) (TIM)’s CEO Pietro Labriola is expected to propose to directors to seek further improvements of multi-billion bids for the company’s landline grid at a board meeting on May 4, two sources familiar with the matter said on Friday.

Rival suitors KKR and a consortium comprising Italian state lender CDP and Macquarie have offered 21 billion euros ($23.2 billion) and 19.3 billion euros respectively, each raising their initial offers by one billion euros.

($1 = 0.9057 euros)