Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022.
The board started a review of KKR's offer on Friday, approving it on Sunday, TIM said.
The sale's 18.8 billion euro price tag, including debt, could reach 22 billion euros if certain conditions are met, TIM said.
TIM said it would not put the board's decision to a shareholder vote, in a setback for leading shareholder VivendI (VIV.PA).
Vivendi, which owns 24% of TIM, has been seeking a higher price and questioned the sustainability of the business left behind.
Persons:
Dado Ruvic, Giorgia, Pietro Labriola's, Labriola, Merlyn Advisors, Merlyn, Elvira Pollina, Valentina Za, Will Dunham
Organizations:
Telecom Italia, REUTERS, TIM, Vivendi, Sunday, KKR, European Union, Treasury, VivendI, Thomson
Locations:
Italy, MILAN, London