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Telecom Italia secures €1.5bn bridge loan for network sale and debt reduction, with KKR as potential buyer.
Telecom Italia signed a €1.5bn ($1.6bn) bridge loan to strengthen its liquidity until the closing of its planned sale of fixed network to KKR.
The loan, with an 18-month maturity, is underwritten by major banks and will help refinance the company's needs pending European regulators' approval for the network sale.
Telecom Italia expects to sell its fixed-line network to KKR for up to €22bn to reduce its substantial debt pile.
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Telecom Italia obtiene un préstamo puente de 1.500 millones de euros para la venta de redes y la reducción de deuda, con KKR como comprador potencial.