11:27 AM EDT, 04/12/2024 (MT Newswires) -- (Updates to include KKR's response in the third paragraph.)

KKR (KKR) plans to appoint Luigi Ferraris as chief executive officer of the 19 billion euro ($20.24 billion) landline network business that it is buying from Telecom Italia, Bloomberg News reported Friday, citing people familiar with the matter.

Ferraris, head of state-controlled rail company Ferrovie dello Stato, could be appointed as soon as this summer and the decision is backed by Italy's government, the report said, adding that the decision is not final.

KKR declined MT Newswires' request for comment, while Telecom Italia did not immediately respond to a request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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