KKR-led consortium completed the acquisition of the fixed-line network management and infrastructure perimeter of Telecom Italia, an Italian telecommunications company with headquarters in Rome, Milan, and Naples, for €22bn. The board of Telecom Italia also considered an offer from Macquarie and CDP Equity. "The completion of the transaction with KKR and the Italian Ministry of Finance is the result of two and a half years of intense work, during which we have improved the management of TIM and identified industrial and financial solutions that will enable us to meet future challenges," Pietro Labriola, TIM CEO.