CDP bid for TIM assets now expected by mid-October

Italian state lender Cassa Depositi e Prestiti (CDP) is now expected to make a non-binding offer for the landline assets of Telecom Italia (TIM) by mid-October, a report from Reuters says. It had been thought an offer would be submitted this month, but delays have been caused by the country’s general election this week and difficulties reaching a valuation of the fixed network assets. CDP owns around 10% of TIM and 60% of wholesale network operator Open Fiber, with plans to merge the two networks if a sale does go ahead.